Nvidia rose less and lost more steam
Nvidia carries the same warning as the other two, and the sharpest of the three: it rose less and lost far more steam along the way, 11% of price against a third of its momentum.
The difference is that here the warning has not reached the price yet. The stock has recovered and trades 4% below its May high, so this one is still on the chart and not on the tape.
The decision
We are not getting in. Nvidia sets the pace for the whole chip sector, so it is the first thing we check every week, and a correction here is the entry we have been waiting for.
While the warning stays on the chart and not on the price, waiting costs us nothing.
Read the full thesisSourceYahoo Finance (NVDA, weekly closes)Data to
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