X
X

Game Trader: The Nintendo Switch Launch Stock Trade is Over

Readers and viewers of the Game Trader feature here at Shacknews know that I am somewhat of a perma-bull on Nintendo's stock. This doesn't stop me from looking at the company's stock objectively using chart-based technical analysis. While I believe there is still tremendous long-term upside to investing Nintendo's shares, stock traders have no reason to take a risk right now with the Big N. The Nintendo Switch launch stock trade is over.

I alerted our readers to a quarterly buy signal on Nintendo's stock chart back in April 2017. The reversal strategy upside breakout above $30.96/share netted traders a fine gain, with Nintendo's stock (NTDOY) closing just under $40/share today and having hit a 6 year high over $44/share just last month. Sadly, the stock is in no man's land right now from a technical perspective. Please take a look at this video for an in-depth look at Nintendo's stock from a technical analysis perspective.

For more videos, including gameplay and interviews, visit the Shacknews and GamerHub.tv YouTube channels.

GLOSSARY

INSIDE BAR

A candlestick formation that occurs when the entire price range for a given security falls within the price range of the previous period.

OUTSIDE BAR

A candlestick formation that occurs when the entire price range for a given security is above and below of the price range of the previous period.


REVERSAL STRATEGY

A candlestick formation that occurs after an inside bar when a stock breaks above or below the previous period followed by a breakout of the range. It is essentially an equillibrium break followed by a reversal to the other direction.

HELPFUL LINKS

For more information regarding the technical trading strategy that I use follow Rob Smith from T3 Live.

Find out more about the charting software used in this video at the Official TC2000 Website.

If you found any of the terms in the video confusing, please check out Investopedia for much more educational information.


Full Disclosure:

At the time of this article, Asif A. Khan, his family members, and his company Virtue LLC had the following positions:

Long Nintendo via NTDOY ADR

Visit Chatty to Join The Conversation