The short term bearish broadening wedge broke up during AH today as well as the intermediate term descending channel with the move above 250 as mentioned in previous posts.
Granted, this is AH movement. So we're hoping for follow through tomorrow during RTH.
Resistance overhead at 258.5 > 260 > 262/263 > 265 > 270.
270 is the ALL Important number. The real bearish pattern this past month came from the break of 270 to the downside, which led to the gap fill all the way down to 231 and below.
Look for a HUGE test of that 270 level on the DAILY close.
If we can get a good close above 270, consolidate, AND if the overall market cooperates --> this baby is going to ATH in the next few months.
Let's see how this plays out. The last NVDA pattern break (downside) was multiple BAGGERS.
Give us the direction Mr. Market!
Granted, this is AH movement. So we're hoping for follow through tomorrow during RTH.
Resistance overhead at 258.5 > 260 > 262/263 > 265 > 270.
270 is the ALL Important number. The real bearish pattern this past month came from the break of 270 to the downside, which led to the gap fill all the way down to 231 and below.
Look for a HUGE test of that 270 level on the DAILY close.
If we can get a good close above 270, consolidate, AND if the overall market cooperates --> this baby is going to ATH in the next few months.
Let's see how this plays out. The last NVDA pattern break (downside) was multiple BAGGERS.
Give us the direction Mr. Market!