NVIDIAShort
The "big" short.
Hi everyone,
I am very pleased to be here and giving my first thoughts on a chart. I've been researching quite some things about Technical analysis lately and I really feel passionate about it.
So that's about me. Coming back to the chart we can not ignore that Nvidia really made a big rally since 2017 till 2018. We see a strong pullback in the months between Oktober and December 2018. The through on the peak is 50%.
Than there is another strong pullback between February and March 2020. The stock went from $315.- to $182.-. Than afterwards we see an enormous rally that goes from $182.- to $590.-
My conclusion is;
The ADX (trend indicator) is under at 22.
The DMI + is at 26 and will be tested at 30.
The DMI + is also producing lower highs.
+
The total volume is decreasing.
+
The RSI indicator is has been tested many times at 65 level.
Potential target; $613 - $590.
This is not financial advice. Always use stop loss. Advice is to not to trade more than 1% of total amount of equity per trade.
Good luck.
Please share comments and thoughts so we can learn from each other.
I am very pleased to be here and giving my first thoughts on a chart. I've been researching quite some things about Technical analysis lately and I really feel passionate about it.
So that's about me. Coming back to the chart we can not ignore that Nvidia really made a big rally since 2017 till 2018. We see a strong pullback in the months between Oktober and December 2018. The through on the peak is 50%.
Than there is another strong pullback between February and March 2020. The stock went from $315.- to $182.-. Than afterwards we see an enormous rally that goes from $182.- to $590.-
My conclusion is;
The ADX (trend indicator) is under at 22.
The DMI + is at 26 and will be tested at 30.
The DMI + is also producing lower highs.
+
The total volume is decreasing.
+
The RSI indicator is has been tested many times at 65 level.
Potential target; $613 - $590.
This is not financial advice. Always use stop loss. Advice is to not to trade more than 1% of total amount of equity per trade.
Good luck.
Please share comments and thoughts so we can learn from each other.
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