NVDA is forming a bearish rising wedge and with September just starting (also the worst month for technology/Nasdaq listed equities), I believe NVDA is heading lower.Similar to my
SPY analysis, 
QQQ also performs the worst out of any month in September as per seasonality data.With a rate hike potentially around the corner this month coupled with
NVDA currently trading at 113 (or so) P/E and being a 'high beta' stock, I believe it will correct down to $465 area first.Note : I am not bearish long term, I just see some catalysts working as a bearish trend change.
Trade closed: target reached
Target Hit !Trade closed: target reached
Target 2 Hit ! Both 50 SMA + 200 EMA Targets hit...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.