NVDA is @ "channel support"

2018年3月28日

Some ideas show NVDA as having broke through horizontal support and heading for a major correction. But methinks "channel support" is a reliable and more intuitive metric of 'support', and by that criterion NVDA might be as corrected as it's going to get. However, there's a broad impression at this moment that the tech sector is on shaky grounds and may be due for a significant correction, and I'm not refuting that impression. I'm just noting that technically, today NVDA crawled like an inch worm along its channel support line, and that might be a sign of hope for the bulls. I'll post a shot of that below...

2018年3月28日

註釋

Look at this! Today NVDA crawled along its objectively defined channel support like a inch-worm straddling along a sting...

Gives me the impression this support is real and solid. So maybe it will hold.

2018年3月29日

註釋

Channel support not only held, but NVDA bounced off it with vigorous momentum!

Since I started examining charts recently, I'm impressed that the common concept of 'support' that seems to be based upon horizontal prior low points is inferior to what I call 'channel support' or 'trend support', which is to draw a line along the prior lowest points along a stock's trend (its trend line), not along a horizontal line that's insensitive to its trend, and that line is 'support'. In several of my ideas and this one, trend support seems an almost amazingly reliable predictor of low-point reversals.