Tsteves

Tsteves

First and foremost, I have to admit I'm a little biased on this prediction because I have calls expiring 9/6, but I'm going to break down my thought process for this trade... First thing I noticed was the 4H MACD starting to turn towards the upside. After earnings and a peak of 130, we slid all the way to the 104 region which equates to a 20% dip from the...

Tsteves

Here we are. Just you, me, and a strange serious of price action events with NVDA... So, how do we read this in the short-term future? I always start with a Daily Chart (1D). MACD and RSI are overdue for a little pop towards the upside. After a retest of the lows, NVDA bounced off what we can now call Support at 97. Our initial price targets still stand. In...

Tsteves

Let's kick off Tuesday morning by breaking down IWM: First and foremost, on a daily chart, it appears to be in a freefall and this slight recovery is just a bounce along the ride down, complimented by the rising wedge pattern on a 1H chart. I'd like to sit back and say, "well the markets recovering, so IWM should too". However, experience has taught me to trust...

Tsteves

So let's break this down. NVDA hit the price target of 95-97, actually even broke below that giving up a little extra icing on the cake... We know that Ms. Market isn't going to allow people to get rich on short-term calls and her job is to stabilize growth in the market. NVDA did the 10-for-1 stock split and made it much more affordable for retail traders to...

Tsteves

The old peak high would indicate a bounce off the zone of 95-97. Drawn out, it's likely to hit between 8/2 and 8/5, after the weekend. However, we know the market likes to trick, trap, fool, and frustrate. So let's see how this plays out... In that range of 95-97, I'm buying calls for 2-3 weeks out.