$NVDA, hitting previous 1.764 extension on the micro (link)
For the m medium term structure, the only available extension still un-hit is 6.854 at 129.29 chart here (link) support should be 93.26. Additionally, there is no bullish case we can make on NVDA, there is only a projected move higher that has been developing in three waves, chart here (link).
Despite there is no bullish case we can make on NVDA it doesn’t mean price can not continue moving higer so it is our duty to grasp some clues considering previous price action at these same fibonaccis under similar counts. Based on the exclusive behavior observed on NVDA, today’s correction is not worrisome and as we have discussed this action might be chasers being punished. We have no position at the moment but we are interested in the 105.14-105.66 range and we will maintain a cautiously-bullish approximation for as long as 102 holds looking for 139.68 at a minimum and that’s a very decent risk reward. Curiously there are no IRB’s yet.
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