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Nvidia (NVDA) - Edition #1
Nvidia (NVDA) - Edition #1 - Read the full update on Zelf Trade.
LR Guizadoâ¢
Nvidia (NVDA) - Edition #1
Macro Outlook â ïž Caution â ïžÂ
- Price has been in a clear uptrend breaking all gravitational laws.Â
- This stock more than likely will continue this uptrend in a macro scope.Â
- ⊠Now what?
- We advise you to take caution before jumping in right now.Â
- Juneâs monthly candle closed with a huge wick up indicating selling pressure.
- Price might still move higher but this wick shows exhaustion from buyers and might be indicating a top and possible retrace in the next few months.Â
- Areas of interest for long term positioning will be $109 ish area and if this level does not hold $93 ish is a must buy long.Â
Short Term Outlook ð ð Bullish / Caution â ïžÂ
- Price is having a positive reaction so far.Â
- Long entry in the $125 - $122 ideal
- Weâll be targeting previous highsÂ
- Invalidation upon break below $120
- In case price breaks below $120 we should expect lower pricesÂ
- A retrace to $110 will be idealÂ
Disclaimer: This content was originally published on Zelf Trade.