NVDIA Is it late to buy if you missed the +25% jump??
NVIDIA Corporation (NVDA) closed almost at +25% yesterday and naturally investors who missed the opportunity to buy low might be wondering if it is too late to buy. Technically, the stock is within a 8 year Channel Up on the log scale and following the October 10 2022 Low exactly on its bottom, it has started the new bullish leg towards its top.
The 1W MACD just avoided a Bearish Cross with yesterday's price jump, something that also happened on the week of January 03 2023, which resulted in a relentless rally extension up to today. Our long-term target is $550, which is where the previous two mid-term rally peaks took a pause sideways (35.60% from the Channel's top).
We may potentially see a pull-back (hence an even better buy opportunity) if the 1W MACD eventually makes a Bearish Cross. On March 02 2022, that resulted in a -40% correction to the 1W MA100 (green trend-line), so you may reserve an amount in case this opportunity comes again. Typically during such Channel Up rallies, the 1W MA50 (blue trend-line) holds the uptrend. When it broke in the past, the corrections of late 2018 and 2022 started.
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The 1W MACD just avoided a Bearish Cross with yesterday's price jump, something that also happened on the week of January 03 2023, which resulted in a relentless rally extension up to today. Our long-term target is $550, which is where the previous two mid-term rally peaks took a pause sideways (35.60% from the Channel's top).
We may potentially see a pull-back (hence an even better buy opportunity) if the 1W MACD eventually makes a Bearish Cross. On March 02 2022, that resulted in a -40% correction to the 1W MA100 (green trend-line), so you may reserve an amount in case this opportunity comes again. Typically during such Channel Up rallies, the 1W MA50 (blue trend-line) holds the uptrend. When it broke in the past, the corrections of late 2018 and 2022 started.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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