NVDA - Short term Bear
Aggiornato
Recent News - ca.finance.yahoo.com/news/1-u-officials-order-nvidia-214913361.html
Although I still have a bullish perspective in the long run (may take a few leap calls on this when I find the bottom.) It is however showing a downtrend with a lot of downward pressure. The news that broke out 3 hours does not help the case on this one as it pulled back by 3% after hours. Although I do expect a bit of a rebound tomorrow at market open off the $140 support, I do believe we will find rejection for a pull down below this support. I am already in on this with a swing PUT but may load up more tomorrow if the technicals line up.
Other reasons for why I believe there could be more downward pressure outside of the news catalyst from above, the tech sector has seen inflated growth over the pandemic. Although I would never have expected this big of a pulldown, I do however feel that between pre-pandemic values & recent news on restrictions on AI chips, I believe we are in for more pull down (Not Financial Advice)
Although I still have a bullish perspective in the long run (may take a few leap calls on this when I find the bottom.) It is however showing a downtrend with a lot of downward pressure. The news that broke out 3 hours does not help the case on this one as it pulled back by 3% after hours. Although I do expect a bit of a rebound tomorrow at market open off the $140 support, I do believe we will find rejection for a pull down below this support. I am already in on this with a swing PUT but may load up more tomorrow if the technicals line up.
Other reasons for why I believe there could be more downward pressure outside of the news catalyst from above, the tech sector has seen inflated growth over the pandemic. Although I would never have expected this big of a pulldown, I do however feel that between pre-pandemic values & recent news on restrictions on AI chips, I believe we are in for more pull down (Not Financial Advice)
Nota
The stock played out nicely this week. I traded PUT options all week and achieved a solid ROI. I believe there is still more and a gap to be filled before we can see a turnaround. Will be interesting to see what the coming week looks like
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