NVDA - Buying the Retracement
Updated
NVDA has retraced past the .62 fib towards .705 and .79. Buy zone is between 158 and 142 dollars in the green box. Scale in for better entry price. Stop at 136.85. I would look at 192 for first profit taking and 216 after that.
The idea of this trade is that price will bounce in this region, it maybe the bottom or maybe not, from a longer term perspective it could still drop some more, however in this region probability is higher.
Timeframe - Weekly
Support - (1) 158.49 and (2) 142.30
Resistance - (1) 192 and (2) 216
Stop - 136.85
Happy Trading!
The idea of this trade is that price will bounce in this region, it maybe the bottom or maybe not, from a longer term perspective it could still drop some more, however in this region probability is higher.
Timeframe - Weekly
Support - (1) 158.49 and (2) 142.30
Resistance - (1) 192 and (2) 216
Stop - 136.85
Happy Trading!
Trade active
First Order hit at 158.49Trade closed: stop reached
Stopped out
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