NVDA - Long Term Bullish - Short Term Short

20 Ogo 2018

This has been and will continue to be one of the strongest chip companies. Mixed emotions after last earnings caused the sudden drop. This will surely push away some investors alongside constant trade war drama with talks of "tech bubble" (manifesting after huge AAPL drop). Regardless, the charts show support at 240 and resistance at 250. If 240 cracks, I expect this to continue to fall down to 220 and 200 respectively. I personally don't see 220 cracking, but we will have to wait and see. If support forms at 240 and that area holds, I expect a longer period of consolidation before 250 breakout, unless news or positive economic data takes place.