The following names appear overextended to the upside and may be due a retracement, creating a short term shorting opportunity.
Nvidia - we recommended the name on radio at $527 on 16/03. It's since been a strong performer, closing at $762 on Wednesday. Note the bearish divergence as per the 7-day RSI.
DocuSign Inc. - Over a 7-week period, the stock has advanced from $180 to $274. If $272 fails to hold then we could see a move back to the low $250s.
Costco Wholesale Corp. - Trading near multi-month highs, the higher price (and 22 June breakout) is not being confirmed by a higher 7-day RSI i.e. bearish divergence. Failure to hold $389 should see a move down to ~$375.
*Any failure to hold the prior day highs should be seen as an early signs of a slowdown in upside momentum.
Nvidia - we recommended the name on radio at $527 on 16/03. It's since been a strong performer, closing at $762 on Wednesday. Note the bearish divergence as per the 7-day RSI.
DocuSign Inc. - Over a 7-week period, the stock has advanced from $180 to $274. If $272 fails to hold then we could see a move back to the low $250s.
Costco Wholesale Corp. - Trading near multi-month highs, the higher price (and 22 June breakout) is not being confirmed by a higher 7-day RSI i.e. bearish divergence. Failure to hold $389 should see a move down to ~$375.
*Any failure to hold the prior day highs should be seen as an early signs of a slowdown in upside momentum.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.