On April 26, 2024, The weekly chart of
NDX
shows a weekly recovery from the MA-30 week.
NDX
closed near the weekly high which is encouraging. The current close is right near the resistance 17,780 which was broken during the week April 15-19.
Looking closer at the daily chart we can see that the resistance is at the same level with both MA-20, MA-50, therefore this is a key level challenging the market next week.
I started to buy a pilot position in
NVDA
around the close of April 26. Reasons:
This happened before the
NDX
did so as described above.
NDX
shows a weekly recovery from the MA-30 week.
NDX
closed near the weekly high which is encouraging. The current close is right near the resistance 17,780 which was broken during the week April 15-19.
Looking closer at the daily chart we can see that the resistance is at the same level with both MA-20, MA-50, therefore this is a key level challenging the market next week.
I started to buy a pilot position in
NVDA
around the close of April 26. Reasons: - Crossed up MA-20
- Crossed up MA-50
- Crossed up the small trendline (yellow line on the chart)
This happened before the
NDX
did so as described above.
Trade active:
I closed 50% of the position as the stock starts to move down its MA-50. Still hold the other 50%.
Trade active:
Bought back this 50% as the stock quickly got back its MA-20/50.
Trade active:
Still holding but we need to decide to trim this position or not before Thursday as the earnings will come out on Wednesday after close.
