NVDA: Should I Pull The Trigger ?

2 พ.ค.

Stock analysis coming this week from various sources saying "Time to Pull The Trigger on NVDA" .. Is it ?

Let's take a quick look ..

- NVDA has recently formed the famous VCP (Volatility Contraction Pattern) - a good sign for a possible breakout soon
- but the VCP is forming below the 50SMA (blue) and 100SMA(gray) lines
- also there's a "supply pocket" (white rectangle) forming a resistance area at $115
- the good sign is, yesterday (on hype from GOOG and MSFT earnings, NVDA finally broke towards the 50SMA and looks like trying to get above) - first time since wk4 Feb

So when is the ideal entry? what do i need to see ?
=====================================

- Price needs to get above the 50SMA (blue Line) - Which will cause the MACD main line to get into positive zone



- 20SMA (purple line) gets above 50SMA (blue line)

- Ideally price breaks above the 2 pivot levels marked on the chart $115 and $123

- The US market needs to stabilize for all of this to happen :)


- Note: NVDA analysts (upside) price targets are between $160 (avg) to $236 (highest) - See NVDA forecast page in TV. So patience should be rewarded. Let's get to the safe zone first.


thoughts ?

2 พ.ค.

บันทึก

Here's another view that shows the setup we would be looking for and how it manifested in the past - useful ?