Nvidia Director Tench Coxe perfectly timed the $NVDA peak on Mar. 5, 2024 when he sold $170 M worth of NVDA shares. I thought that Coxe does a great job timing his sells, and Coxe recently sold again on June 7, 2024. Coxe has successfully timed another peak, and has a tendency to sell slightly early. I marked Coxe’s two recent sells with a gold arrow. NVDA is down ~15% from the local highs. I would definitely monitor Tench Coxe’s future sells and the size of his sell orders, especially since NVDA appears to be forming an AI bubble.
In terms of stock price, NVDA formed a rejection off the 2.618 fib level around $140. There is a 2 fib level approaching around $116.35 that could provide support. I think NVDA’s bubble is still in the early stages, and I see more upside throughout July and August before a correction in September.
ChartChamp socials: https://linktr.ee/realchartchamp
