NVDA, Elliot Wave Theory: Analysis and StrategiesNvidia, is expected to present earning results today after market.
As undefined signs in the last days, I decided to make an Elliot wave analysis to check where we are at this point as this stock is long one for me.
I was surprised, scanning Fibonacchi’s on Elliot, that 3rd wave is exended.
No doubt as per fundamentals and innovation that this is a long term growth one. The thing now are its technicals to me, meanwhile we enter in a 4th wave, cost of opportunity is going to take an starring place.
Always taking in a dollars positions. Other countrys where money is not that robust one and or devaluated, shall be the same if your money is in an Elliot 4th wave for a long time or not. Also remember 4th could be not that 0.618 worse point but a 0.382 wich is not bad if your money devaluates less at that point. Then, 5th wave and your devaluation will be double key reasons to stay long.
Back in US dollars, think if you are in and the fourth wave takes place, two strategies come to mind: one is to stay into the 4th wave based on the fundamentals and innovation drivers of this stock, and also accumulate to catch the 5th wave, that well prepared. The the other strategie of these two is just stay out until the 5th takes place if you have a better one to invest, repurchasing when the 5th wave starts, only if you feel good at time management without losing the opportunity cost.
Conclusions> if fundamentals and innovation remain strong, there seems to be no room to lose for this growth investing.
If you are not there and the fourth wave takes place, you will have enough time to buy it.
I hope you like this analysis and it is useful for you.
Invest at your own risk.
Nvdalong
NVDA BreakoutNVDA is primed for a bullish breakout. The squeeze indicator is displaying a shift to bullish momentum, while the oscillator is about to display a ema crossover, allowing for a preempted play to the bullish side. Not only do we have two indications of bullishness, but we also have a stacked ema allowing for a great bull squeeze.
Bullish Signals
-Squeeze indicator
-Oscillator crossover
-Stacked ema
Weekly Support
-1st 194
-2nd 180
NVDA Finally BreaksoutPrice broke higher from the consolidation area in play since the 4th of June. For the past week price has traded within 690 to 701 and provided good opportunities to play both sides of the market.
Open drive in Fridays early trading took price beyond the established range to make a new high of 709.30
A short pullback to test the upper range of the boundary presented the only opportunity to join in the move higher.
Has price found the legs to proceed higher in next week's trading?
NVDA broke out of the Descending Channel | NDVA ER Run Up$NVDA recently broke above this descending channel. With ER coming in 6 days, I will be watching closely for a continuation higher leading up to ER.
Today, we closed closely above the 61.80% fib level of $587. It is critical we hold this level, if not - a minor pullback/support at $569 - $571.90 would be a good retracement.
If we move higher, we will climb to the mental number of $600 and $613.27.
NVDA channel.We see a long-term channel (purple lines). It started in 2016. In October 2018, it was broken. Then the "Diamond" model was formed. And the growth began until March 2020. Then the price of April 2020 pushed off from the support of the "diamond" and took a course sharply up to rejoin the old purple trend.
Today we are near the trend resistance, the peak growth is limited to $620-630 and the stabilization in the range of $605-615 at best. In the worst case, close to the day of the report, the price will draw something similar to the "Double Top" model and, breaking through the "neck" level, will go down to the support of the channel - to $525.
NVDA 11/16 Earnings Run and LongNVDA is one of my favorite stocks.
As for the earnings run I couldn't tell you if it will pump or dump after we hear earnings but here is why I like this stock for the following week:
1)MACD hit below -15.00. If we look at the last time it did that we had a month long bull run of +$100. The big unknown is earnings.
2)The support and resistance wedge is getting smaller just in time for earnings. We could be following either green line support. we will see as the week begins.
Nvda ShortIn current situation i see NVDA in a huge uptrend with huge unfilled Gaps, and those gaps perfectly meet the fibonacci retracement of 38.2 and 61.8-78.6 level only if the top is 590.
Therefore i think Nvda will long till 590 and find resistance and retrace to those gaps. Giving good opportunities to buy long later on.
Right now its risky to sell, and always its better to long in tech stocks.