NVDA double bull pennant stacked on a 15 year triangle.
Updated
Yo!!!
Who doesn't love a break out after a 15 year ascending triangle" specially when it accelerates two a gain of over 6900% since breakout in 2015.
These two XXL bull pennants each took a total of approximately three years from trough to peak with retracement periods of around 9 months for both. .Extension on NVDA follow the FIb closely. 900% gain, similar to the most recent pennant would put it right at the fib extension 1.0. - $1173.00. Because the most recent poll pennant increased 940% compared to the prior bill payment which increased 1750%. We will take the lesser of the two cut it in half and use that as a target. We should make the third bowl pennant wave 1/4 the magnitude of the first. Using this method which is a target of
590 which is kind of right in the middle of the .786 and .618 extensions so based on what I can see like you, just looking at these charts, it will bust above .618 and reach the .786 fib ext which is around $705 within a few years.
Buying long calls expiring in July at first good entry next week because i expect this to gap up and hit
305 before earnings then if earning are positive chug to $350 or so before end of summer.
Any feedback or thoughts - I bounce these ideas off my wife and they dont bounce back... so feedback appreciated!!!
Who doesn't love a break out after a 15 year ascending triangle" specially when it accelerates two a gain of over 6900% since breakout in 2015.
These two XXL bull pennants each took a total of approximately three years from trough to peak with retracement periods of around 9 months for both. .Extension on NVDA follow the FIb closely. 900% gain, similar to the most recent pennant would put it right at the fib extension 1.0. - $1173.00. Because the most recent poll pennant increased 940% compared to the prior bill payment which increased 1750%. We will take the lesser of the two cut it in half and use that as a target. We should make the third bowl pennant wave 1/4 the magnitude of the first. Using this method which is a target of
590 which is kind of right in the middle of the .786 and .618 extensions so based on what I can see like you, just looking at these charts, it will bust above .618 and reach the .786 fib ext which is around $705 within a few years. Buying long calls expiring in July at first good entry next week because i expect this to gap up and hit
305 before earnings then if earning are positive chug to $350 or so before end of summer.Any feedback or thoughts - I bounce these ideas off my wife and they dont bounce back... so feedback appreciated!!!
Note
IMO there is nothing to derail the AI wave for 2023 - pullbacks to .382 NVDA target could and likely will get increased throught the year. Market can't determine the valuation that AI will bring - discovery mode expecting continually wild price movement. Better to be in than out until large catalyst to the downside or break in trend
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