NVDA Today: Next Rally or Dead Cat Bounce? Here’s the Answer…

We took up a position in NVIDIA (Ticker: NVDA) at $109.35/share yesterday. Why? For only one reason – the downside momentum was overdone (See chart included here).

There’s a problem with our cautious optimism, however. There’s likely more downside ahead – and soon.

So in the immediate term, is this a “dead cat” bounce or a genuine start to the next rally? The answer is both.

For shorter term traders, expect weakness to set in mid-August. This weakness could be severe.

But the real worrisome selloff may be mid-September. Plan accordingly.

To your success.

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