Nvidia - The bullish consolidation flag!

May 13

Nvidia - NVDA - is still quite bullish:

(click chart above to see the in depth analysis👆🏻)

After Nvidia retested a major horizontal support just last month, we witnessed an extremely strong bullish reversal candle which resulted in a strong +50% rally. Considering the bullish flag consolidation, a breakout is much more likely, but not in the immediate future.

Levels to watch: $150

Keep your long term vision!
Philip (BasicTrading)

May 21

Trade active

Nvidia - $CRYPTO:NVDA - perfectly follows the flag:

(click chart above to see the in depth analysis👆🏻)

Being up +20% so far in May, Nvidia is just perfectly respecting the expected flag formation. This honestly looks like the beginning of the next major impulse higher, although it is quite likely, that we will see a longer term consolidation first.

Levels to watch: $150

Keep your long term vision!
Philip (BasicTrading)

May 29

Trade closed: target reached

Nvidia - NVDA - is heading for new highs:

(click chart above to see the in depth analysis👆🏻)

With a pop of +4% after earnings, Nvidia is still clearly following market structure. This was just another sign that bulls are taking over and with the +30% candle of May, Nvidia is strongly heading for new all time highs. All we need now is the resistance breakout.

Levels to watch: $150

Keep your long term vision!
Philip (BasicTrading)