Coureur_de_bois

Time's Up for $NVDA Time to Pick a Path

NASDAQ:NVDA   NVIDIA
Everyone is aware of the $272.5 level being critical for $NVDA. This is part of a larger bull pennant pattern that has been developing since late October. This pattern both in price and volume is running out of room. TA bias would be for a continuation up. This could come first through a fake breakdown to gap fill to $266.90 followed by a rally. Broader index and bond conditions would favor a true breakdown with not much to stop the drop until $228.86 and probably the 200dma. No position while waiting for price to tell me the way.
Penafian

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