Today's action was brutal. Also,It's not like the chart wasn't trying to tell you something like this would happen. The stock has been trending lower for awhile now. That said, the ILA has some interesting fundamental aspects to it. Wonder how secure that 7% div is? The Moody's action seems to me to be overdone but in this market action like this tends to linger. IMO the chart doesn't do much good here.
Fundmentals always throw charts out of the window. Looking at NVDA from the chartist point of view, might look like we are turned a corner and should have moved up today. NOPE, not at all. NVDA was an easy morning short at the beginning of the gap fill as early as 10:10, now waiting for another pattern failure (at the bearish rising wedge) at the declining 20 period moving average once again.
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