NVIDIA facing big drop?
Updated
NVIDIA has been in the overbought area for almost 1 month now. In my opinion, this looks like the start of a major correction.
RSI has to cool down for a while, which will most likely result in a price drop.
Currently, I have no position in NVDA. However, If I were in a long (swing) trade, I would close the position now.
RSI has to cool down for a while, which will most likely result in a price drop.
Currently, I have no position in NVDA. However, If I were in a long (swing) trade, I would close the position now.
Trade active
KeyBanc raised the price target to $950. I'm planning to open a short position today. My entry point depends on the price development in the next few hours. It would not be surprising to see 850-900ish area before today's close.PT1 ~680
PT2 ~640
Any thoughts on this?
Trade active
Trade active @ 827.6Note
trend reversal imminent if it doesn't close above 810 tomorrow33 bars (49 days) upwards trend line broken
Note
Update on price targets:~680
~650
~620
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