At least a 15% drop coming (maybe more)
NVDA is at the end of an overextended corrective wave.
Initial move to the downside will begin next week after earnings report - best case for NVDA is a drop to test 270 by end of June.
Would not be surprised with a drop to 185 by end of June 2023. Sounds crazy, but makes sense given that market is setting up for a major leg down that will be termed a "crash".. However, it will simply align with expectations of current structure and transition into next bearish cycle.
After the initial down we will see a bounce, but only to set up for lower low in 2024.
July Puts all day.
Initial move to the downside will begin next week after earnings report - best case for NVDA is a drop to test 270 by end of June.
Would not be surprised with a drop to 185 by end of June 2023. Sounds crazy, but makes sense given that market is setting up for a major leg down that will be termed a "crash".. However, it will simply align with expectations of current structure and transition into next bearish cycle.
After the initial down we will see a bounce, but only to set up for lower low in 2024.
July Puts all day.
Note
Posted an updated idea with new targets etc.. Nice run, I didn't hate the stock but I do now. Great opportunity to add July puts at a discount.Note
Break below 379 here will drop it to 363. Break below 363 will drop it to 315.
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.
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.