NVDA Nvidia Exciting Upward Trend! NVDA (Nvidia) is an exciting stock to be in. Given their processing tech and the ability to branch into many cloud businesses such as gaming, processing, and storage, their technology has become a necessity, and demand consistently exceeds supply.
I got into NVIDIA as a long-term growth play when it was trading at $360. The breakout above previous ATH with volume was an obvious signal to buy, along with STRONG fundamentals and macroeconomic environment making it a recipe for the next rocket.
I don't typically buy into overbought stocks, but with the environment around stocks like TSLA and AAPL making it obvious a tech bubble was forming, it looked like a stock that wasn't getting as much attention yet given the news cycles were sparse, and product launches upcoming in Q4 were going to be great fodder for future growth.
I played it right, and the stock went all the way up to $585, now in a correction pattern.
Based on the Fib extensions and Elliot wave patterns, this is a very healthy growth stock with potential to shatter its ATH in the next 6 months.
Disclaimer: I am not a professional and I draw charts for my own education and keeping track of my trades to know when to get in and when to get out. I'm always open to constructive feedback so feel free to share your thoughts in the comments. Thank you!
