Sunday, March 5, 2017

New signals for 03-06-2017 $NVDA $DVN

Hi everyone,

I know, I haven't posted for almost a week. We've had some trouble with the algorithm, so we did not recieve any new notifications for most of last week.

We did, however, recieve 2 interesting signals on Thursday and Friday.

Sell signal was given to $NVDA (last price: $98.43)
It is without question that Nvidia's stock was one of the best performing stocks in the S&P500 in 2016, having rallied close to 250% to a market cap of $60 billion. Reasons for the rally included a new line of GPUs which were just incredible, and the high demand for its hardware in the auto industrry.
However, as of last week, the stock was given a Sell!
We can look at the weekly chart and notice that the stock is now already down 18% from its 52-week highs of $120.92 (just 3 weeks ago).

It looks like the stock may be forming a Head & Shoulders, meaning it could drop way lower from here.
Following a smart stop-loss above its trending downward channel brings a risk:reward of 2.9 with a price target around $80.

In short, I would enter Short here with a cautios stop-loss around $102.6 and reduce it as the stock continue down-hill.


Buy signal was given to $DVN (last price: $43.35)
I don't see the upside in this stock currently. But the UltimateAlgorithm has been known to "foresee" a sudden rally in stocks just before they occur.

That's it for today. Have a great one!

To see general results of the algorithm click here.
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