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NVDA: Bearish ABCD above the Trading Range Targeting $272.42NVDA has risen above the trading range but has started to print weaker Bearish candlestick patterns on the Daily as it approached the PCZ of a potential Bearish ABCD pattern. At this point in time it seems like NVDA will fall short of $600 then come back down to its last official support level which was at $272.42, if 272.42 doesn't hold then it could go into the one hundreds or even below $100 to around $80 but $272.42 is the main target.
NASDAQ:NVDAShort
by RizeSenpai
8
NVDA: Monthly Bearish ABCD Signal Pending Lowering Target to $80Last month I posted a setup that made the argument that NVDA was trading within the Pattern Completion Zone of a Bearish ABCD visible on the Monthly Timeframe and that all I was looking for was a Monthly PPO Confirmation Signal which would likely be triggered by a Bearish Negative Monthly Candle within the Zone; this situation remains the same we are still trading within the zone even after the earnings pop, but we simply haven't had that negative month yet, however it does seem like it will soon give me the signal that I want and it's something to pay attention to, at this point I'd say it'd be ok to put on a midsized bearish entry via 1-3 month NVDA Puts around the $480-$500 strike or NVDS Calls at the $36 strike and upon generating the bearish negative signal candle it will be appropriate to put on the full bearish entry. In addition, after the recent Price Action and Earnings, if we do get the signals we want here, NVDA will probably drop back down to around $80 The original setup can be found below:
NASDAQ:NVDAShort
by RizeSenpai
14
A Negative Month at these Levels Could Signal NVDA Down to $196We are at a point where NVDA is trading at a Macro Monthly Bearish ABCD PCZ and all the Oscillators are sitting in overbought zones. If NVDA sees a negative monthly candle at these levels, it is very likely that these Oscillators will begin to come down again and signal Potential Bearish Action ahead; if we get such a signal at these levels, then I would typically aim for it to go back down to the level of C of the ABCD as a Minimum Target; but given how high this is and how profitable even a 61.8% retrace would be, I will opt to target the 61.8% retrace instead down at $196.32 as it nicely fits into my typical 3:1 risk to reward requirement.
NASDAQ:NVDAShort
by RizeSenpai
8