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Analysis: #NASDAQ $NVDA

Case 68 #Nvidia Corp

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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#NVDA 1/4
Nvidia went on a two and a half year #parabolic run, climbing from approximately $25 to $292 then went on a vicious three month correction taking the price back to 124.46.

NVDA 2/4
Chart 1
Monthly Chart: The correction was halted just ahead of the #Fib 0.618. It is bullish, the #SMA 20 has been reclaimed but losing some upside momentum. The SMA 50 & 200 offer good support. The very long term objective sees it trade above 340 for 425.

NVDA 3/4
Chart 2
Daily Chart: Price is chopping through the SMA 20 and just holding above #trendline support and the SMA 50.

The #Strategy is printed on the image.

$NVDA 4/4
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