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Todays Big Stock Wealthpop News

Is This Tech Giant Finally Ready To Turn Over?


There are plenty of those investors that assume the market is turning back over after its impressive run higher over the past several months. While there may be some truth to this after many stocks have fallen lower, along with Apple’s (AAPL) weaker-than-expected earnings results, we still need more evidence to prove there is no bounce level in sight.

For a stock like Nvidia (NVDA), a stock that has been on a run unlike many others in this market, we could be closer to finding out if that is the case or not. We had been tracking a NVDA channel upwards for sometime and at the same time, a bull flag began to be forming as well. That was, until price broke below two levels that were supposed to be acting as support.

Now, the stock is looking like it may want to continue to pull back. After one channel’s support level broke, it didn’t take long for the other to break also. If bulls have any hope of propping the stock up and preventing a larger move downward, 400 is going to be the last real line of defense before the stock flushes all the way down to 370 and beyond.

Make sure to watch the video below for all the details of this trade to have on watch, so you can be sure to not miss the move.

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Good Luck With Your Trading!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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