Short

NVDA - Head & shoulder formation short from $108.07 to $90 area

Updated

NVDA came up in our smart money course. It had a really long run, and now seems forming a Head & shoulder. Also seems forming a double top. We think it has very good down side potential & it can drop to $90 shortly.

* Trade Criteria *
Date First Found- February 13, 2017
Pattern/Why- Head & shoulder; Double top
Entry Target Criteria- Break of $108.07
Exit Target Criteria- $90
Stop Loss Criteria- $116.13

Please check back for Trade updates. (Note: Trade update is little delayed here.)

Note

February 14th- Traded down & hit entry price. Now wait & see.

February 16th- created a lower low and a lower high, a break below its 50 day SMA could signal a secondary entry zone. Looking good.

Note

February 23rd- Wow! Declined 9.27% today with huge volume, and closed at the bottom of the range. Looking very good as short.

Note

March 2nd - Resuming its downtrend after adjusting to EMA lines. Looking good as short.
March 6th - Downtrend continued with another small decline. Very good trade so far.

Note

March 6th - Downtrend continued with another small decline. Very good trade so far.

March 14th - Would update stop to $107.13 or more aggressively at $105.44. If in options or stock nothing wrong with some profit taking.

AcornWealthCorp

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by AcornWealthCorp

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