Chart of the day

NVDA supported for a new swing higher

Where do we stand fundamentally?

NVDA has made a constant revenue growth quarter to quarter which led to a string upside rally in the last three months fueled by the stock split as well. Forecasts for growth continue so the stock should have one more swing up before anything else.

NVDA is testing strong support in the fourth of five long-term Elliott upside waves and the fifth would be confirmed after a break above the recent high.

Support for an upside extension and a test of 140 again is 100-115 zone and an invalidation level of a fifth wave extension higher is 97. Only a confirmed break above 140 is required for a continuation higher.

NVDA 15 days

Look for a long trade entry with a stop loss below 110.

NVDA trade setup

MENTORING WITH A 25K FUNDED ACCOUNT