NVDA – great on fundamentals, not so great on technicals

NVDA deserves all the accolades, no doubt. Great company, great management, great products, awesome growth. But I take the  current price with a pinch of salt..

No questions about its fundamentals but a quadrupling of stock price in 14 months)? Something is not right..

Here is is my probability forecast purely based on a few momentum oscillators (on multiple time frames) and the current unwarranted euphoria on this stock.. From 170 levels, 200 is a possibility but 140 seems more likely to me. The ER is on Aug 10 and the bulls may be in for a near term shock. Bull or Bear, make sure you have a Stop Loss in place.. Happy trading!!

NVDA Aug 8

No one is happy to lose. Become a successful trader by learning the art & science of Risk Management the right way! Click here for more

About Venkat Pulakkad

Entrepreneur, management consultant, blogger & forecaster. Founder of Flourish Research Media that provides insights on markets, trading strategies & risk management. Currently an active trader with 20+ years of experience trading Forex, Stocks & Options. Areas of interest: Trend / Swing trading, Macro-tech analysis, building trading strategies, deploying Risk Management techniques, and helping / coaching traders to become successful traders. Twitter link: https://twitter.com/Flourish_Venkat      
This entry was posted in Uncategorized and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s