NVDA has been taken out to the woodshed recently despite posting solid earnings. Price is more oversold than during the March plunge and eventually people are going to realize that this company actually make money unlike many of the tech names that have been sold off due to ridiculous valuations. Video games not going anywhere, AI is in the early stages, chips are in short supply and crypto still needs to mined so I don't see this company going out of business soon. Watch this zone for a potential reversal. As with so many tech names recently do not be surprised if price flush below the zone. Best to wait for confirmations with a sold basing pattern.
Commentaire:
One of many gapping up. Look for gap to hold and QQQs to stay strong. If it is a new position enter in multiple lots.
Commentaire:
Held the gap and closed above 500 again. It will be key for price to hold this level. Depending on your time frame this can be a treated as quick swing or long term hold. On the shorter time frame I would look to take profits in 510/15 zone as there will be heavy overhead resistance. For a longer hold we simply want price to hold above the recent low. If it loses 467 a trip to 384 is possible.
Commentaire:
Trading at 510 premarket. Short term traders should be starting to trim here.
Commentaire:
I am personally trimming some into 520. Still good for a longer term hold just manage risk by trailing stops to lock in profits.