NVIDIALong
A Rip Towards the Upside?
First and foremost, I have to admit I'm a little biased on this prediction because I have calls expiring 9/6, but I'm going to break down my thought process for this trade...
First thing I noticed was the 4H MACD starting to turn towards the upside. After earnings and a peak of 130, we slid all the way to the 104 region which equates to a 20% dip from the top...
Coupled with being close to oversold on the 4H RSI, I think we're due for a recovery of some sort. On a Friday? Why not?
The target would be the zone between 114-116 before we enter "the crossroads" again where it either holds or breaks through resistance, but truth be told, I don't care about that. I just want the rip roar recovery to get us there.
Problem is, I'm a little out of the money with the 111 calls so in order to see some kind of decent profit, I'm gonna need a big spike.
In the back of my mind I'm thinking, "Will Ms. Market react in a text-book kind of way?" Meaning, will she open and nosedive to fake-out call option holders just to then run it up 5-7%?
I guess we'll see. I'm in this for about $650 which I can handle losing, but I'm betting against the trend, so we'll see...
First thing I noticed was the 4H MACD starting to turn towards the upside. After earnings and a peak of 130, we slid all the way to the 104 region which equates to a 20% dip from the top...
Coupled with being close to oversold on the 4H RSI, I think we're due for a recovery of some sort. On a Friday? Why not?
The target would be the zone between 114-116 before we enter "the crossroads" again where it either holds or breaks through resistance, but truth be told, I don't care about that. I just want the rip roar recovery to get us there.
Problem is, I'm a little out of the money with the 111 calls so in order to see some kind of decent profit, I'm gonna need a big spike.
In the back of my mind I'm thinking, "Will Ms. Market react in a text-book kind of way?" Meaning, will she open and nosedive to fake-out call option holders just to then run it up 5-7%?
I guess we'll see. I'm in this for about $650 which I can handle losing, but I'm betting against the trend, so we'll see...
Note
On a side note, Ms. Market had some solid resistance at 104... She may fake-out at the 104 marker and make a "rip your face off" recovery. Note
Looking like we had a pre-market pop and drop, a little bull trap. Take a small L, going to keep it pushing
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