Yep, I'm a contrarian. It is time to short $NVDA.
Way overbought on RSI. Decreasing volume. Wicking candles... and, on top of that, I see some cyclicality here. We tend to see this with Nvidia since 2018 where the rallies are followed by a quick precipitious drop. The next cycle shift should start in January and should likely be a 6-month drawdown.
I'm betting we see the price back down to the mid-range EMA cloud and test a price range of $75 to $45. If you go short, just know that this is going to be a difficult one to hold through the journey given the focus on this stock.
That said, number can't go up forever.
Way overbought on RSI. Decreasing volume. Wicking candles... and, on top of that, I see some cyclicality here. We tend to see this with Nvidia since 2018 where the rallies are followed by a quick precipitious drop. The next cycle shift should start in January and should likely be a 6-month drawdown.
I'm betting we see the price back down to the mid-range EMA cloud and test a price range of $75 to $45. If you go short, just know that this is going to be a difficult one to hold through the journey given the focus on this stock.
That said, number can't go up forever.
Nota
Slowly starting to play out.
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.
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.