Hi Christopher,
Welcome to the thread:)
Looks like a pretty good strategy IMHO according to the daily chart... stockcharts.com[w,a]diclyymy[dd][pc5!c21!b50!b100!b200!i!h.02,.20!f][vc60][iub14!ll14!lp14,3,3!la12,26,9!lc20!lg!lh39,1]
For example, according to the ADX which is in a strong trend the +DMI just crossed under (depending on the chart service you subscribe to... or it may have appeared to have just cross-over) the ADX is suggesting that the top is in. Also CMF has been steadily declining throughout the "rally" by NVDA compared to price. A negative divergence in my view. FWIW only. & everytime NVDA's chart "hit" the 70 level on the RSI. The stock price turned down.
Also note the negative divergence between the rising price & declining volume...
Good luck on your short, I think that you will do very well in the long-term IMO & FWIW only
I could go on & on using various indicators, but, I think you get the bearish picture that I am developing.
Regards,
Peter |
