Updates! Trading NVDA, AVGO, PYPL, BX
A walk through each trade, what the charts say, and what I plan to do next.
Welcome to all of the new subscribers to ATE! We are getting close to 2,000 total which is incredible. I appreciate all of you and your support.
I will have to plan something for when we do cross the 2k mark. But for now…
We have trades to review!
Semiconductors as a whole are still consolidating but NVDA just broke out and where this ticker goes, typically the rest follow.
NVDA
The candles for NVDA are doing what the bulls want. Breaking the trendline.
There was a decent uptick in volume over the past two trading sessions for NVDA as it broke the trendline and is now targeting the profit levels outlined last week.
Here’s the link to that post (for upgraded subscribers): Semiconductors Ready to Rip
The 50-day simple moving average (SMA) has also been overtaken while the relative strength index (RSI) has moved firmly into positive territory.
If you got in the trade on Friday, I like your positioning. You should have your stop loss set and be ready to take profits at each target.
If you missed it on Friday, there is still a chance for a small pull back before continued upside. It would be ideal to get in on a small dip as long as it held above Friday’s low which would also be above the 50-day SMA.
AVGO
I am watching AVGO closely. It should follow the leader here but so far the candles are taking their time after the recent massive gap up. It’s been about three weeks.
You can see the candles drifting out of the wedge pattern with volume remaining relatively low. There is a chance they continue to drift sideways, allowing the 50-day SMA to catch up.
I’m staying out of this trade until shares make a new high.
PYPL
PYPL was another name that was setting up nicely for a big trade heading into the new year. The set up is still in place after more consolidation.
I prefer to trade options contracts that expire 2-3 weeks out, but sometimes that isn’t enough time and it is necessary to roll to a later expiration date.
That might happen with PYPL, but for now we still have some time.
Take a look at the prime entry and support that goes with it.
Excellent support by both the 50-day SMA and the anchored volume weighted average price (AVWAP). I like entering the trade at these levels.
Also note the higher lows which is coupled nicely with an RSI that is moving above the midpoint on decent but not overwhelming volume.
The original post for PYPL (and BX) is here: Charts Signal Higher Markets
Contract details, profit targets, stop loss levels, and all of my notes. The intent is to show you how I trade and hopefully that helps you with your trading.
Last up is probably the least known name on the list to start off 2025 but it has been a fantastic ticker to trade. At least I have had a lot of success with it.
BX
We are either going to see a complete breakdown for price or the candles will recover and make a push back to the top of the pattern.
If share recover back above the high from just over a week ago, I like them to continue to push with a market that is moving higher.
Financials overall have shown a similar pattern - a tremendous run followed by a pull back and consolidation.
I like the entry for BX right here, at these levels.
Two new trade ideas post tomorrow that you won’t want to miss! We have great opportunities lining up every week, thank you watchlist.
I will be outlining where I plan to enter trades for both UPST and FTNT. Post drops tomorrow morning!
Also, I will be hosting The Trading Triangle on YouTube as well as Spaces on my X account: @tradernatehere. If you aren’t familiar with either, both are great resources for market, trading, and investing knowledge.
The audio recordings will be shared via the ATE newsletter so if you miss the original, you will always have the recordings delivered to your inbox.
Stay tuned for that! I have met a number of great panelists that always bring great ideas to the table.
I hope you’re off to a profitable start for the year. Thank you again for your support!
-Nate
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Solid list and great analysis