NVDA
NVIDIA: More probable downsideI review NVDA on larger time frames. There is a tremendous fight between the bulls and bears at a 23.6% retracement on the Daily time frame, with momentum heavily for the south. NVDA has suffered the worst fall in its history. It is still a bear market at least on the Daily and Weekly time frames.
ULTA update: watching for the FOMO bulls' next moveThis educational screencast is I hope useful in showing how price action can be assessed from various perspectives. It is now pretty late in the game to short ULTA. See ULTA - Journey South ? (from 20th Nov 2018).
I expect FOMO bulls to rush into ULTA, fighting for a few crumbs! LOL. That expectation is based only on human psychology. Make no mistake, it is psychology that works at the tips of the markets.
See also what happened to FOMO Bulls in NVIDIA .
I re-emphasise that I have no need of working out where price is going to go. I'm using a probability model instead of a 'predictive' model. Hence - no targets, only controlled acceptable losses.
NVIDIA: FOMO bulls beaten badlyIn my previous screencast of 17th November, below all this text, is the story of someone (not from Tradingview) messaging me to ask if NVDA was good to buy. They were disappointed when I simply said "No".
In the current screencast I follow up on how the FOMO bulls were punished for attempting to hunt a gap too early.
This screencast is not advice. I am not saying that NVDA will not rise again. The point of this video is solely about appreciating when not to go in . I'm not saying that now is a bad time or good time to enter long.
There are lessons in this:
1. If you're with the trend it can be your friend, else it's your enemy!
2. Avoid news and social media crowd sentiment.
3. Avoid gurus.
What's NVIDIA gonna do? NVIDIA Iis at an interesting position. The gurus of fundamental analysis are saying it's ready for a pump north.
I'm not so sure. A few years ago there was a major crisis and loads of stocks plummeted despite great earnings. I remember well as I was long on Disney, which had brilliant prospects, then had a great earnings surprise, yet the market fell like a rock. I was stopped out, bewildered.
So - it's not all about fundamental analysis an earnings reports.
NVDA NVIDIA is clearly the next big stock! Move to $279? Hi Guys,
NVIDIA has seen a huge rally in the past few weeks and I think there is more gas in the tank to grow even further!
Nvidia just reported they made $289 million in graphic card sales to crypto mining, which is great news for not just NVIDIA but for the crypto world as a whole. This clearly shows there is clear support, belief and demand for graphic cards to mine BTC & other coins.
In this day and age of IOTs there is a much larger need for big data analysis, machine learning & Artificial intelligence. As AI is the future, Nvidia is the backbone for all the AI processes. I look at Nvidia as the next big stock as its graphics cards will be a touch point with any and every application we build moving forward.
To take it a step further, there are blockchain projects like Golem Network that are moving forward with connecting requesters with a network of individual PCs & GPUs to create a super computer that can help with graphics rendering and other machine learning and AI requests.
The future is clearly bright for technology as a whole and NVIDIA & Golem sit in the heart of it!
Hope that helps and check out my videos on other interesting coins :)
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Market Review 06/04 : BTCUSD, SPX, HSI, TLSA, NVDA, AUDNZDHope this idea will inspire some of you !
If you want to see my chart more closely, click the share button below that video.. You will be able to have access to the chart used in that video.
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Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Kindly,
Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :
NVDA / D1 : clean signal to try another crash patternHope this idea will inspire some of you !
Don't forget to hit the like/follow button if you feel like this post deserves it ;)
Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum .
You can check my indicators via my TradingView's Profile : @PRO_Indicators
Kindly,
Phil
If you want to learn more about the basic rules to trade with my indicators here's the educational video link :