By Licia Leslie
January 8, 2025
Hi Shoppers,
After a very nice three day rally, Nvidia (Ticker: NVDA) made a major reversal taking it down 6% creating a large bearish candle:
It closed right on support of the median line and the 50 day moving average.
So this morning I will be watching for one of three things the stock will do.
- Gap open higher and trade within that candle making it an inside day or a harami candle that could negate this down move. (Be sure to wait for the confirmation of the stock trading higher tomorrow before jumping in.)
- Open right around here (the support level) and then continue to sell off at which point I will be watching the five minute chart to hop into some near term puts.
- Consolidate here for a couple of days before making a move.
Don’t forget we have the Fed minutes coming out today also so be on your toes.
Thank You For Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
See what's hot at option pit
CAPITOL GAINS: SMR Aug16 7 call closed for a 150% gain
DELTA STRIKE: VLY Mar15 8 puts closed for a 88% gain
PFE May17 26 calls closed for a 66% win
OP MENTORING: SPY Mar22/19 510 put calendars and 520 calls for 6.4% gain
OPTION SHOPPER: ERX Mar28 65 calls closed for a 90% gain