Nvidia Pops Higher Within Bear Flag Pattern: Is The Chipmaker Heading Below $400?
Portfolio Pulse from Melanie Schaffer
Nvidia Corporation (NASDAQ:NVDA) hinted at DLSS 10 delivering full neural rendering, causing a slight increase in its stock price. However, the company is settling into a possible bear flag pattern on the daily chart, suggesting a potential drop in stock price. The AXS 1.25x NVDA Bear Daily ETF (NASDAQ:NVDS) is a leveraged ETF that tracks 125% of the opposite daily performance of NVDA, offering a way to play Nvidia bearishly.
September 25, 2023 | 5:13 pm
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NEGATIVE IMPACT
Nvidia's stock price may drop due to a possible bear flag pattern on the daily chart.
The bear flag pattern, along with the lower-than-average volume of the recent price increase, suggests that Nvidia's stock price may drop in the short term.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The AXS 1.25x NVDA Bear Daily ETF (NASDAQ:NVDS) offers a way to play Nvidia bearishly, tracking 125% of the opposite daily performance of NVDA.
If Nvidia's stock price drops, the NVDS ETF, which tracks 125% of the opposite daily performance of NVDA, could see gains.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80