Nvidiacorporation
NVDA Testing Bottom LowNVDA has turned above the extreme low of the early bottom formation. This is a sign of strength. The stock also has some Dark Pool Quiet Rotation™ going on at this level.
NVDA Finds Support at Previous Yearly LowNvidia has bounced up from a slightly higher low than its previous low. This may result in a bottom formation developing slowly over this summer.
Nvidia Bull Consolidates Before Run Continues Prior to trade talk resumes, Nvidia is seen here to be expected to consolidate further before it bulls run.
US Recession signals are still being digested by the market as 3 month and 10 year yield curve inversion leads to global equity sell off. US Tech industry is expected to further consolidate as markets anticipate the outcome of trade talk.
Trade talks have proven to be unpredictable due to Trump eccentric stance. Trump has been giving positive expectation while actual negotiator Robert has announced "more work to do" previously.
Trade war can move both way and markets are not expected to turn optimistic and bullish too early before clear signals by officials..
Ascending triangle is seen forming. Equity broke triangle range due to positive company news "of Mellanox Acquisition and Clearance of Crypto Hardware Inventory". Sentiments retreat will lead to the equity to consolidate further before further run.
Strong support line is expected to cushion the consolidation before bull continues.
Good luck!
$NVDA bullish swing trade set-up on a 4hI entered long NVIDIA Corporation based off this bullish engulfing candle after the retest, indicators showing oversold and upside potential. As always, price action can move against you regardless of how well indicators stack up. Risk management is key in protecting capital. Not financial advice.
