Trade Nvidia with Unum Capital.
To get started, email lester@unum.co.za
Q: What is the overall trend for NVDA? A: The overall trend, looking at the long-term perspective (5 to 8 weeks), has been upward. However, it's noted that the trend has turned weaker.
Q: What is the current 7-day trend? A: The 7-day trend is weak.
Q: What is the current 14-day trend? A: The 14-day trend is bearish.
Q: Is there any opportunity for a short-term buy/long position? A: No. The short-term price action reading suggests to "Wait Until It Stabilizes On The Lower Time Frame". This indicates significant weakness and a lack of clear direction for a short-term trade.
Q: What is the outlook for the medium term (2 to 4 weeks)? A: The medium-term outlook is also weak. The model states to "Wait Until It Stabilizes On The Lower Time Frame", mirroring the short-term view.
Q: What is the outlook for the long term (5 to 8 weeks)? A: The long-term outlook remains upward, but with a caution. The report suggests that "Use Rebounds Into The 8, 21 or 50-EMA As A Potential Sell Short Range". This implies that while the long-term trend is still up, there's potential for pullbacks or corrections that could be used for short-selling opportunities.
In summary: NVDA shows weakness in the short and medium term, with both the 7-day and 14-day trends indicating bearish sentiment. The long-term trend is still upward, but it has weakened, and potential pullbacks should be considered for short-selling rather than buying. The key takeaway is to wait for stabilization on lower time frames before considering any trades.
Lester Davids
Analyst: Unum Capital
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