NVDA : H&S breaking down, with a 23% profit Target
Updated
NVDA : H&S breaking down, with a 23% profit Target
NVDA has broken down a nice Head and Shoulder formation, for a projected 23% profit.
On this case, It is interesting to note those points :
So... a Short trade, right now, would be a smart suggestion, followed later with Long trade. As usual a protected Stop is always appropriate.
Have fun… WynTrader
NVDA has broken down a nice Head and Shoulder formation, for a projected 23% profit.
On this case, It is interesting to note those points :
- This NVDA H&S Target should be placed around 308.00$, as projected the H&S calculation.
- This price Target at 308.00$ correlates with the lower base of a Gap-Up, realized on the May 25th 2023, when NVDA Results were published.
- Also, this 308.00$ Target coincides with the 0.50 Fibonacci retracement, starting at the low of Oct. 13th 2022.
- And, this 308.00$ Target may be joined around that date of the next NVDA Results planned for Nov. 21th 2023.
So... a Short trade, right now, would be a smart suggestion, followed later with Long trade. As usual a protected Stop is always appropriate.
Have fun… WynTrader
Trade active
Humm... I'm not so sure with this Short trade. Because, the market had a positive reaction believing that the Fed should have no further action taken.
A stop at 442.37 is in place.
Let's see!
Trade active
2023-11-03 11h21Hummm... Stop at 442.37 is having its footh beginning to feel the heat of the price on fire
Have fun!
Trade closed: stop reached
2023-11-03Too bad... 😢😢😢😢 Snif
NVDA as a strong competitor beat this H&S so popular technical rule.
See you next time
WynTrader
Wyn-Trader
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