NVDA go a little bounce on Friday from a little hidden bullish divergence in the MACD histogram. It also put in an inside bar, so, not a very good look at the moment. Right now, last Thursday's high and low will be the range to break. If this week price can break above $906, then the chance for making $1000 increases. Perhaps, that is what the company is looking for to maximize the stock split, or perhaps the market wants the magic number to unload.
If $857 break down, then the EW count gets momentum. But to confirm that the downtrend has started or not, we need a full 5 wave sequence completed. Along with a breach of the long term trendline, it will be sell every bounce for NVDA for the foreseeable future. Cycle degree wave 4 can last for a few years.
NVDA is going to be a bit difficult to trade in the short term, so, keeping an open mind and fast fingers will be crucial.
If $857 break down, then the EW count gets momentum. But to confirm that the downtrend has started or not, we need a full 5 wave sequence completed. Along with a breach of the long term trendline, it will be sell every bounce for NVDA for the foreseeable future. Cycle degree wave 4 can last for a few years.
NVDA is going to be a bit difficult to trade in the short term, so, keeping an open mind and fast fingers will be crucial.
