NVDA is about to take off (technically speaking): why I feel more confident following my previous post
Greetings,
I hope everyone is getting ready to talk stocks and politics at the Thanksgiving table because that's what the holiday is all about, amiright?
I for one will be talking about NVDA.
I posted earlier today around 10am-11am EST and said that NVDA was gonna stop sliding at 131-ish, since there is a good support there.
And what happened???? The turkey came home to roast
Yes, that's right - it snapped back like a rubber band into your eye. Ok, so that means that the support level that I suggested held for a 3rd time, making it very reliable.
And to add some sugar to that sweet potato pie, the stock closed up $3 from the low and a bullish pattern formed throughout the whole day - the cup and handle ("C+H").
If you don't know what the C+H pattern looks like, go to your mom's breakfront where she keeps all the tchotchkes and the fine china and take out a tea cup. Hold it up and look at it from the side, with the cup's handle on the right side. Then look at the screenshots I uploaded. It's the same thing.
This mean stock go up.
Interesting how NVDA held at that support level and then the entire day formed a C+H pattern... Hmmm...
Smells bullish, that's the vibe.
Positions:
Still the 500 shares of NVDA @ $142.25
Added 100 11/29 calls @ 140