By Licia Leslie
December 18, 2024
Hi Shoppers,
I think there may be a head and shoulders pattern that has developed in Nvidia (Ticker: NVDA):
Yesterday it traded and closed below the neckline which is at $132.19 and the MACD has turned bearish.
Using the formula, this will take NVDA down to $115.
Now the point of control of the volume profile sits at $125 which will provide some support, still that is seven bucks lower.
Looking the the options, I like the Jan03 expiration 130 puts:
Use a close above $132.19 as your stop loss.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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