The Long Investor

$NVDA

Added 2025-02-03 13:55:39 +0000 UTC

$NVDA has been struggling since the DeepSeek impact and although the price is at the 50 WMA and above the 0.618 fib at $114, the price action needed to start this week positive and there is bearish sentiment in the market now, so let's look at the worst case scenario to the downside if support levels are not held.

I have shared the red line range between $90 and $102, down to this range I am happy to hold and would likely add again here once price is held, but going below $90 and the impulse wave is not valid for me and Wave 5 is not a possibility

Their earnings are not expected until the 26th of Feb so I believe it is unlikely there will be a breakdown below $90 until this point

For me, I am holding but we must expect short term pain while this trade war escalates....all parties involved could end this trade war very quickly and the market could respond very positively, especially if earnings releases are positive so remember this.