NVDA: Earnings Week Ahead
Updated
NVDA has been extremely rangey.
It has been operating within a larger bearish setup; however, my suspicion is that it soon should be invalidated because, in my opinion, no market top as of yet.
NVDA has been in this uptrend channel for some time, more of a wedge I guess you could say:
We ended the week right on support and within the next week bull/bear threshold range.
Probability for Monday is bearish which makes me think we will gap up and re-test on Monday. Look for the bull/bear threshold range as the support range into next week.
Bias is up, at least to the top of the channel but realistically NVDA will likely make a new ATH, maybe with earnings this week, but can't be certain.
I don't play earnings and am not going to count on 2 consecutive parabolic earning releases, I will catch it pre and after the move but not gambling the move myself.
Overall bias on the week is long to the high targets in the chart.
If you are an earnings gambler, I wish you luck! haha
Safe trades!
It has been operating within a larger bearish setup; however, my suspicion is that it soon should be invalidated because, in my opinion, no market top as of yet.
NVDA has been in this uptrend channel for some time, more of a wedge I guess you could say:
We ended the week right on support and within the next week bull/bear threshold range.
Probability for Monday is bearish which makes me think we will gap up and re-test on Monday. Look for the bull/bear threshold range as the support range into next week.
Bias is up, at least to the top of the channel but realistically NVDA will likely make a new ATH, maybe with earnings this week, but can't be certain.
I don't play earnings and am not going to count on 2 consecutive parabolic earning releases, I will catch it pre and after the move but not gambling the move myself.
Overall bias on the week is long to the high targets in the chart.
If you are an earnings gambler, I wish you luck! haha
Safe trades!
Trade closed: target reached
..
For real-time updates and premium indicators, consider joining my group at: patreon.com/steversteves
Disclaimer
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.