NVDA long: 580 target by Jan 15
NVDA has had a beautiful consolidation and a flagging pattern the last several months. The downside trendline has held quite well for the most part but the price action has been quite choppy however. I think the price is about to explode higher, if the rest of the market stays green.
My target is 580 by January 15th (or monthly expiry) based on the Fib time series. The best way to capitalize on such a move would be the 600C or 550/575C spreads. There are multiple other ways to take a more strongly positive delta here as well but I'll leave that up to your creativity.
The key point to note for confirmation (at least for me) is if it crosses 526 tomorrow and closes above. I'll certainly enter in to a position if it does.
My target is 580 by January 15th (or monthly expiry) based on the Fib time series. The best way to capitalize on such a move would be the 600C or 550/575C spreads. There are multiple other ways to take a more strongly positive delta here as well but I'll leave that up to your creativity.
The key point to note for confirmation (at least for me) is if it crosses 526 tomorrow and closes above. I'll certainly enter in to a position if it does.
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