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