NVDA (NVIDIA Corp) offers an objective short entry on this minor uptrend line break & backfill of the Deepseek gap (resistance) with stops commensurate with one’s price target(s). A solid break & weekly close below the key 200-day moving averages, which act as support & buying opps during bull trends, will offer another objective short entry or add-on. Daily chart below.
NVDA daily Feb 20th
Zooming out to the more significant weekly time frame, NVDA offers an objective short entry here at the backfill of the Jan 27th Deepseep gap + minor trendline break on the daily chart (weekly chart & my long-term targets* shown.
NVDA weekly Feb 20th
*T1 was already hit last year where we covered & reversed NVDA from a short to a long position exactly at the very end of the drop at the dead lows in pre-market as well as ALL short positions & reversed them (including NVDA) to a “full long” positioning, as per this post. As such, a short here would be positioning for the next leg down (to T2 and the additional long-term targets), with the potential to zoom through T1 (although it is still support) as we already had the typical reaction (bounce) off the initial tag from above.
Be advised that NVDA is scheduled to report earnings next Wednesday (Feb 26th) but as CVNA is so far showing us today (despite reporting an absolutely 110% blow-out quarter last night), if a stock has a clearly bullish or bearish technical posture heading into earnings, more often than not, that will determine the next trend (regardless of any initial knee-jerk reactions) after they report. Often is far from always, so DYODD & take trades and position sizes that mesh with your unique outlook, risk-tolerance, & trading style.