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Strategies & Market Trends : The Art of Investing
PICK 45.24+1.4%4:00 PM EST
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Sonali
To: Trader J who wrote (8283)3/19/2024 6:13:42 PM
From: Sun Tzu1 Recommendation  Read Replies (1) of 10522
 
Here's the guardrail system at work for NVDA. The basic idea is that things bounce between the green line and red line (with the blue line as an intermediate target), until the stock goes off one side of the rails. From that point on the trend is whatever rail it went off of with acceptable deviations up to the trend line (the grey line where the green/red highlights end).

In the first chart below you see how NVDA bounced off the green to the red to blue and back to the red.
In the 2nd chart you see the same thing happening in a narrower range, but then NVDA breaks above the red line changes from ranging to trending.
As we stand now, we have a consolidation in an upward trend. IF it breaks below the range, then I expect it to come down to the blue line.
The calculations are dynamic, so the targets change everyday.

BTW, I do care about the fundamentals. But they need to be aligned with the technicals.

Chart 1 NVDA Ranging


Chart 2 NVDA Trending
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