The Long Investor
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$NVDA
🕑 Added 2025-04-10 12:30:34 +0000 UTCAlthough I am a fan of $NVDA and hold a position, it is not new for $NVDA to have strong powerful days like yesterday.
This is the 4th time this has happened since August.
But this one was certainly the fastest.
What do we know so far:
Price is still below the 50 and 200 Day MA and the 50 Weekly MA.
Price is still below the white fib Wave B range
Price has only bounced in 1 wave so far, we need to see at least 3.
We have no higher low yet
Price is also below the support/resistance yellow line too
Would I have liked to add $NVDA at $87 on Monday, for sure, but that was not a support line and the set up was not confirmed, $AMZN held and bounced on its 0.5 Fib, a standard level for Wave A, this is why we added twice there.....$BABA also held above its 0.78 Fib and 200 Day MA and we added.
This was a time to be strict on our strategy, finding opportunities is not an issue for us.
We need more price action today from $NVDA but retesting and holding above the 0.38 Fib at $94 would be an attractive buy entry.
Comments
Ronnie
Perfect explanation and investing principles!
