On April 26, 2024, The weekly chart of 
NDX shows a weekly recovery from the MA-30 week. NDX closed near the weekly high which is encouraging. The current close is right near the resistance 17,780 which was broken during the week April 15-19.
Looking closer at the daily chart we can see that the resistance is at the same level with both MA-20, MA-50, therefore this is a key level challenging the market next week.
I started to buy a pilot position in
NVDA around the close of April 26. Reasons:
This happened before theNDX did so as described above.
NDX shows a weekly recovery from the MA-30 week. NDX closed near the weekly high which is encouraging. The current close is right near the resistance 17,780 which was broken during the week April 15-19.Looking closer at the daily chart we can see that the resistance is at the same level with both MA-20, MA-50, therefore this is a key level challenging the market next week.
I started to buy a pilot position in
NVDA around the close of April 26. Reasons:- Crossed up MA-20
- Crossed up MA-50
- Crossed up the small trendline (yellow line on the chart)
This happened before the
NDX did so as described above.Dagangan aktif
I closed 50% of the position as the stock starts to move down its MA-50. Still hold the other 50%.Dagangan aktif
Bought back this 50% as the stock quickly got back its MA-20/50.Dagangan aktif
Still holding but we need to decide to trim this position or not before Thursday as the earnings will come out on Wednesday after close.Dagangan aktif
I decided to hold NVDA into earnings for a few reasons:1. I sold QCOM to reduce my exposure on chip stocks. You can see the details of the QCOM trade in my trading ideas.
2. After selling QCOM, the only related chip stock in my portfolio is NVDA and it is 10% of my account.
3. I have some profits now with my initial position, though not so much.
Nevertheless, in case NVDA will gap down 20% the loss will be around 1.5-1.8% of the total account which is acceptable for me.
Dagangan aktif
With a gap up on earnings, NVDA provides an additional buy point here as it is still in the 5% range from the previous high ($980)Dagangan aktif
I am still holding the position here as I consider this pull back to MA-20 is a normal pull back during a very strong run.Dagangan aktif
The stock is still acting well enough to hold.Dagangan ditutup secara manual
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.