We can extend into the Target Box, But below $128.73 = $95 Bucks
Nvidia has arrived in the target box for our intermediate (B) wave high. Can we extend in the target box? Yes.
However, two things are top of mind to this analyst.
1) The earnings catalyst mid-November is a "keep hope alive event". Therefore, I do not see big trader commitments prior to that. If we go up further into the target box...it will be an overlapping grinding pattern. I see the earnings catalyst as positive fundamentally, but a technical sell event.
2) If price breaches 128.74...that should yield us $95.
If this is how the price action plays out...then at $95, you would do well consider NVDA longs.
Best to all,
Chris
However, two things are top of mind to this analyst.
1) The earnings catalyst mid-November is a "keep hope alive event". Therefore, I do not see big trader commitments prior to that. If we go up further into the target box...it will be an overlapping grinding pattern. I see the earnings catalyst as positive fundamentally, but a technical sell event.
2) If price breaches 128.74...that should yield us $95.
If this is how the price action plays out...then at $95, you would do well consider NVDA longs.
Best to all,
Chris
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