Nvidia (NVDA) breaking out and in the process it is confirming a double bottom pattern. The only way to have really played this one was to play it on a recapture of the 200-day moving average. But even then that was difficult as it had broken decisively through it the day before. Chasing after NVDA here doesn’t offer a really good reward-to-risk ratio, even with the potential retest of all-time highs still looming. Also, you have to consider whether a five trillion dollar stock that is up 17% in less than a week is really worth pursuing at this juncture.
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