Hope you all are doing good!!
I expect this stock to shoot up from around 130-140 price level after completing the correction.
Look for your BUY setups.
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Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL...
200 day average.
Cluster of support of earlier top and bottom- finding support around it.
Breakdown below the horizontal line extend the slide.
Could be finding support at lower level for near term.
Nvidia has taken support from
1) 61.8% Fibonacci retracement level from the lows of gap up point of October 25 to high of Nov 22
2) 38.2% Fibonacci retracement level from the 16 Feb 2021 breakout level to the highs of Nov 22.
3) Trend line formed by connecting highs of Feb 16, July 6, and Aug 30
Just a 700b market cap trading 20% above the 20d. Nothing to see here folks. Daily looks toppy up here so will be ready to throw this trade on with risk over the recent highs. But pay attention to the fact that it’s held the 120min20 this WHOLE move up. So if we get back to those levels, we may hold and base for another attempt at highs. Always manage risk!
After the big pullback from earnings this chart is looking a lot nicer now. Of course I would prefer a longer base to be built. But we don’t always get what we want. I can really see this being 220-225 near-term. Looking for a quick pullback/morning weakness to put us right in that 202 area for a scoop. If instead wants to gap up or just push hard off the open, I...