Trading idea for NVIDIA Corporation (NASDAQ)

NVIDIA Corporation (NASDAQ)

#NVDA

The trend is upward. The stock is trading between the 365-period and 135-period moving averages. The downward wave pattern is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator indicates an oversold condition.

Trading Idea:

Enter a long position upon the formation of an upward wave pattern, where wave (A) breaks through the descending channel of the truncated downward pattern.

Stop Loss: 210.20.

Target Levels: 228.00; 237.50.