NVIDIA - Is The Rug Pull is Coming?
I've been sitting on the sidelines since November because $NVIDIA(NVDA)$ has been compressing without any real buying pressure on the higher time frames.
We got the bounce to $140 as expected, but unfortunately, I think the rug is about to get pulled.
NVDA Breakdown Incoming?
I almost never trade puts—especially on a stock trending up—but NVDA looks like a textbook short setup.
The weekly trend is still bullish, but every bounce keeps making lower highs & lower lows.
We’ve been watching $140 as the bearish smart money zone, and I wouldn’t be surprised if this is a trap.
Earnings are in a few days, so I’m staying out, but a retest of $110 wouldn’t shock me.
Watch your risk.
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Could be worth a punt
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