NVDA - Key Bearish Factors

6 Jul 2023
Hey traders! Today, I want to share my analysis on why I believe shorting NVDA could be a compelling opportunity.

1. Price at Upper Extreme: NVDA's price is currently at an upper extreme, indicated by the U-MLH of the Pitchfork. This suggests a potential reversal or correction.

2. Overhyped by AI News: NVDA may be overhyped by AI-related news, leading to excessive pricing based on future growth expectations.

3. Divergence in Indicators: Technical indicators are showing divergence, indicating a potential shift in NVDA's price trajectory.

My personal potential Targets:
a) the center line
b) the lower median-line parallel

Given the upcoming earnings, hedging is a crucial step in my trading strategy.

Thanks for any comments, rants and positive critics. §8-)