Technicals and fundamentals supporting short position
- Nvidia has risen 25% in the last month to date, suggesting it may have a gap to fill - 90% of gaps get filled
-Overbought on every timescale and has rarely stayed above a 80% overbought level for more than a few days, which it is long
- Stock split coming in mid-July, which will jumpstart a stock buying spree as the stock becomes more accessible to retail investors…due for a correction before the
- Based on this chart, Nvidia has retreated into its bottom fib zone every time after hitting its peak fib zone, which is where it is currently positioned
- Nvidia has risen 25% in the last month to date, suggesting it may have a gap to fill - 90% of gaps get filled
-Overbought on every timescale and has rarely stayed above a 80% overbought level for more than a few days, which it is long
- Stock split coming in mid-July, which will jumpstart a stock buying spree as the stock becomes more accessible to retail investors…due for a correction before the
- Based on this chart, Nvidia has retreated into its bottom fib zone every time after hitting its peak fib zone, which is where it is currently positioned