NVDA : H&S breaking down, with a 23% profit Target

٢٦ أكتوبر ٢٠٢٣

NVDA : H&S breaking down, with a 23% profit Target

NVDA has broken down a nice Head and Shoulder formation, for a projected 23% profit.

On this case, It is interesting to note those points :

1. This NVDA H&S Target should be placed around 308.00$, as projected the H&S calculation.
   
2. This price Target at 308.00$ correlates with the lower base of a Gap-Up, realized on the May 25th 2023, when NVDA Results were published.
   
3. Also, this 308.00$ Target coincides with the 0.50 Fibonacci retracement, starting at the low of Oct. 13th 2022.
   
4. And, this 308.00$ Target may be joined around that date of the next NVDA Results planned for Nov. 21th 2023.
   

So... a Short trade, right now, would be a smart suggestion, followed later with Long trade. As usual a protected Stop is always appropriate.

Have fun… WynTrader

٢ نوفمبر ٢٠٢٣

تم فتح الصفقة

Humm... I'm not so sure with this Short trade.

Because, the market had a positive reaction believing that the Fed should have no further action taken.

A stop at 442.37 is in place.

Let's see!

٣ نوفمبر ٢٠٢٣

تم فتح الصفقة

2023-11-03 11h21

Hummm... Stop at 442.37 is having its footh beginning to feel the heat of the price on fire

Have fun!

٦ نوفمبر ٢٠٢٣

أغلقت الصفقة: تم الوصول لوقف الخسارة

2023-11-03
Too bad... 😢😢😢😢 Snif

NVDA as a strong competitor beat this H&S so popular technical rule.

See you next time

WynTrader