Cycle Trading

Last week we discussed how Nvidia tested the upper stem of its triangle consolidation pattern .

We were watching to see if Nvidia would deliver a bullish breakout- which did not happen.

Instead, Nvidia retraced back down to the 50 day MA where it found support on Wednesday. Then it formed a swing low on Thursday and is back to retesting the upper stem of its triangle pattern. Nvidia is currently in a daily uptrend. If Nvidia delivers bullish follow through and closes above the declining trend line that will indicate a continuation of its daily uptrend and signal a cycle band buy signal.