Hey all, I'm noticing many market-moving names are repeating the redistribution patterns they made leading up to the fakeout rallies and subsequent moves lower in March of this year(Namely AAPL , MSFT , AMZN ). I think NVDA is setting up beautifully for a rally higher back near the $210 zone where I fully expect it to reject and breach new lows in a violent manner. Considering the cyclical and overvalued nature of NVDA and semiconductors(which are still relatively high up), it would be no surprise to me if it were to see its pre-pandemic values well before year-end.
Disclaimer: I think we're at the end of a market cycle and are currently in a redistribution phase before the market heads to new lows(in the midst of a crash)
Disclaimer: I think we're at the end of a market cycle and are currently in a redistribution phase before the market heads to new lows(in the midst of a crash)