Former General Ready?
Last week NVDA leapfrogged MSFT to become the second most valuable stock on the planet and perhaps now has its eyes set on AAPL going into 2025. Below is the daily chart, and if this can reclaim the 135 area that would be a break ABOVE a bearish head and shoulders formation, and we know from FALSE moves can come fast ones in the opposite direction. Additionally, I will be watching 137 to add to as that would be a break above the middle line (dotted) on the Bollinger Bands (20-day SMA). It has been stuck under the middle line for a month now except the 3 days between 12-4-6 (prior to that it traded above the middle line as PRICE grinded higher between early September and late November). On its WEEKLY chart, it carved out a fractional advance, demonstrating good relative strength, as the SMH and SOXX fell 2.7 and 3.8% respectively. Bears will state the doji candle is adding up the tally of dubious candlesticks (engulfing, dark cloud cover, and shooting stars boxed) after a long run. Notice too the bearish RSI divergence with lower highs as PRICE makes higher highs, but leaders tend to climb the wall of worry. Pressure is a privilege to them (BJK).