The Long Investor
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$NVDA
🕑 Added 2025-05-12 16:19:51 +0000 UTCNice +5% bounce today with the market and we are within touching distance of the 50 WMA now at $124.65. and current price is at $122.
We are in between the 0.5 Fib and 0.618 Fib range and the triangle bottom line is at $127 too.
So between $119 - $127 is a very important range that can cause a rejection....so far every one appears bullish and the $SPY has broken above the 50 WMA but no retest of this level yet.
I believe if $NVDA can break above $127 and hold then it can move back up to its ATH level at $153.
With the Bullish PT at $174.
$AMZN was an easy buy for us at $164 but $NVDA carried more risk, as Trump does not like them selling chips to China...saying that, we continued to hold, we did not sell out and will continue to hold until we see a rejection.
No rejection and we let this run.
Comments
RealOpinions
If it breaks and holds above 127 do you still expect the wave C next to complete in that <80 range?
Z-Trader
Thanks for the update cap! 🫡
LDeeG
Sad I did not buy more AMZN at 165 BUT happy I bought some
