NVDA - RE-TEST 95 AGAIN; MAKE OR BREAK FOR BEARS
See my previous posts last few days. I've been skeptical of this rally, and have been holding through this fake breakout.
$125 is a major support level for bears to break for any movement.
My opinion is that Wave C could have happened at "A".
Bullish bounce off the $95.68 level if re-tested, would invalidate this correction wave structure.
If there is a bearish breakthrough 95, i see it testing $80 FAST.
The risk of going long on NVDA here is too high for any appeal. If price action starts to slow down after reaching ATH's, it is natural to be wary if the rally still has any steam. A good example is Apple in Dec 2023 until Apr 2024. Apple re-tests ATH, and a slow steady decline after ATH Rally runs out of steam.
Disclosure: Currently long NVD shares @ avg 1.70
$125 is a major support level for bears to break for any movement.
My opinion is that Wave C could have happened at "A".
Bullish bounce off the $95.68 level if re-tested, would invalidate this correction wave structure.
If there is a bearish breakthrough 95, i see it testing $80 FAST.
The risk of going long on NVDA here is too high for any appeal. If price action starts to slow down after reaching ATH's, it is natural to be wary if the rally still has any steam. A good example is Apple in Dec 2023 until Apr 2024. Apple re-tests ATH, and a slow steady decline after ATH Rally runs out of steam.
Disclosure: Currently long NVD shares @ avg 1.70
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