$NVDA forming local higher low and above 20-Day SMA

NVDA has traded very poorly recently. Today we are looking at a daily price chart of NVDA and we have seen many lower lows and lower highs since GTC Conference. After touching the ATH of 150 $, the price is making new lows and has recently touched the lows of 85 $ and made new higher low of 95 $. So, this marks a double higher bottom and now the at 105 $ is now above 20 Day SMA. This might mark a bullish reversal in my opinion.

So why not a trade idea on a Friday.  #TGIF. I say we go long NVDA here and now. Remain long if it remains over the 50-Day, 100-Day and 200-Day SMA. 200-Day SMA ist currently @ 125 $. If NVDA has a weekly close above 125 $ then we go all in on $NVDA.

Verdict: Long NVDA here until 125 $. Keep watching this space for next levels.