Trade sideways before explore or double top and correct?
NVDA may trade sideways OR form a double top.
Double top scenario: if the price breaks below $840 support level, then likely that the stock will correct further down.
Trade sideways scenario: If it doesn't break and start forming a third wave, most likely that it will continue to trade sideways until the next financial results in May. Then will pass the resistance level above $960.
My current plan: Hold to see if it will break the support level. Otherwise cut loss.
If it starts to form a third wave, consider topping up nearer the results season in preparation for the resistance breakout.
Double top scenario: if the price breaks below $840 support level, then likely that the stock will correct further down.
Trade sideways scenario: If it doesn't break and start forming a third wave, most likely that it will continue to trade sideways until the next financial results in May. Then will pass the resistance level above $960.
My current plan: Hold to see if it will break the support level. Otherwise cut loss.
If it starts to form a third wave, consider topping up nearer the results season in preparation for the resistance breakout.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.