Nvidia (NVDA) - Edition #1

Nvidia (NVDA) - Edition #1

Macro Outlook ⚠️ Caution ⚠️ 

  • Price has been in a clear uptrend breaking all gravitational laws. 
  • This stock more than likely will continue this uptrend in a macro scope. 
  • … Now what?
  • We advise you to take caution before jumping in right now. 
  • June’s monthly candle closed with a huge wick up indicating selling pressure.
  • Price might still move higher but this wick shows exhaustion from buyers and might be indicating a top and possible retrace in the next few months. 
  • Areas of interest for long term positioning will be $109 ish area and if this level does not hold $93 ish is a must buy long. 

https://www.tradingview.com/x/lbTrrCmB/ 

Short Term Outlook 📈 🚀 Bullish / Caution ⚠️ 

  • Price is having a positive reaction so far. 
  • Long entry in the $125 - $122 ideal
  • We’ll be targeting previous highs 
  • Invalidation upon break below $120

https://www.tradingview.com/x/AR0S81j2/

  • In case price breaks below $120 we should expect lower prices 
  • A retrace to $110 will be ideal 

https://www.tradingview.com/x/PawcdWIo/