Ming Jong Tey
Independent Analyst
Nvidia stock (NVDA) may be underperforming, but there’s a potential trading opportunity on the horizon. Let’s break it down:
Comparison with S&P 500
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NVDA as a laggard: Compared to the S&P 500, NVDA is still trending down, but this might not last long.
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Potential breakout: The current consolidation phase could lead to a breakout that aligns with the QQQ (Nasdaq 100).
Apex formation
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Apex formation: NVDA is currently forming an apex pattern, which often leads to significant price moves.
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Next steps: A breakout from this pattern could push NVDA to test its highs, signaling a bullish opportunity.
Trading plan for Nvidia stock (NVDA) [Video]
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