3 Trades to Watch for Next Week
So Nvidia is just sitting there mid chart, up near the highs, in no man's land, and there's nothing underneath it and nothing right above it either. When a stock is parked near its highs going into earnings it's going to look for a breakout, that's just what they do, so I take a local low to high and that gives me $231 to $240 on the upside. Fine. Anybody can draw that one. The downside is where I do something you're probably not doing. Pull up your volume profile, which is that sideways bar graph running down the right side of your chart telling you how much trading happened at every single price. Everybody looks at the fat part. Where's the point of control, where has it spent all its time, where's the heaviest volume. I'm looking for the opposite. I want to know where the volume isn't. Because