More Selling Pressure in Nvidia; Target Achieved

Last week a short-term trade opportunity arose in Nvidia Corp after earnings prompted a sharp sell.  Large rotations are rarely a one-off experience, and with the help of our good friend Leonardo Fibonacci we can establish and shoot for a target in a simple manner.

Nvidia has had an incredible run over the last few years, and while a bit of selling pressure is coming into the name, the long term chart has a long way to go before it merits reason for concern.