NVIDIA NVDA Doubles to Key 100 Per Share Level

Dec 15, 2016: 1:43 PM CST

They did it!!

Buyers successfully more-than doubled the share price of tech-company NVIDIA (NVDA) since July.

Let’s take a look at this impressive feat, study the progression, and plot the pullback trades along the way.

Price achieved – then stalled – at the $50.00 per share level in July during an ongoing bullish campaign.

July also saw an impulsive bullish breakout to new highs as the stock began to appear on bullish scans – ours included.

From there, we saw a steady and stable upward progression into November.

Note the three simple “pullbacks” or retracement trading opportunities (note our “Perfect Pullback” simple strategy) that gave eager bulls a risk-controlled placed to enter this “strong stock getting stronger.”

Buyers aggressively accelerated their campaign with a strong gap-up – and two more risk-controlled retracement opportunities – in November and now December.

By midday, shares achieved the all-important $100 per share level.

We’ll be focusing our attention – and trades – on $100 and will trade the immediate departure from here.

Like the stock market, an ongoing ‘short-squeeze’ bullish campaign continues the uptrend higher as we balance the logical odds for another pullback toward the rising 20 day EMA just above $90.00 per share.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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1 Comment

One Response to “NVIDIA NVDA Doubles to Key 100 Per Share Level”

  1. Intelligent Trend Follower Says:

    Thanks for your take on this Corey. NVDA has been a great stock to own and really exceeded my expectations already. I will be curious to watch the price action on the next pullback, so thanks for noting possible support levels.