Nintendo Reaching for all Time Highs - Slowly

26 באוג׳ 2020

NTDOY Seems to be slowly tracking for previous all time highs of around 78$ a share. I am long over all, however we are coming up on a momentum reversal on the daily as the RSI has crossed downward from oversold territory. MACD is also showing the same. This is my first published idea and would love for you to tear it apart and tell me why.

I think its possible Nintendo will come gently down to test lower support levels before finally moving up and testing all time highs and possibly beyond. We are also on the cusp of a new Console Cycle what with XBOX and Playstation coming out with new consoles. While Nintendo has generated new revenue streams I am not sure what they have in store for Covid Christmas time. Time will tell. I am selling some of my shares now 68-70$ so that I can buy the next potential long term dip while holding the rest for a target of 78 - 82$ for an additional 12% a share from where we are now.

This is not financial advice but the ramblings of an Old Bearded Gamer Guy.

Trade Safe, Stay Safe.