...you can start seeing the formation of a X-mas tree pattern on...

...you can start seeing the formation of a X-mas tree pattern on NVIDIA but stocks don't move in a straight-line down.

$NVDA right at the 38.2% fibo now

https://x.com/MikeZaccardi/status/1805336212304990517

Speaking of X-mas tree,

if you were fortunate enough to have bought the bottom of MIN in July 22 at $43, you would have been 212% up by Jan 2023, in just 6 months but most thought it was so good and fundamentally strong that they held because they considered it an investment,...well, held to today, that 212% gain has shrunk to 26.2%. Hold longer and you gains are less because you failed to take a 2x in 6 months.

But for those who bought the stock in the height of exuberant move in Jan 2023, they would be -40% down after holding for a year and a half.

Now this is why it can be perilous to buy a seemingly strong momentum stock after it has gone up a fair lot - it does not matter if the stock or company is good (or not).

If you bought low and held too long not taking profits, you lose those gains back in a big way. If you bought them too high, you can lose big time and struggle to recover over time too.

So one must know when to Buy and when to Exit. Not buy at anytime and never selling - that also has proven even not so for even the blue chip stocks.

X-mas tree everywhere and to be expected to stocks that have overstretched to the upside.

5 year chart
MIN Stock Price and Chart — ASX:MIN — TradingView

..as you can see in each of these All time view charts, a giant X-mas tree boom to bust.
..and these include once favoured broker stocks like APX, A2M, DMP, CHN,CCX.
..all of them that during the period of their supreme reign, they were considered as companies that can only go from strength to strength
All time view
PPK Stock Price and Chart — ASXPK — TradingView
APX Stock Price and Chart — ASX:APX — TradingView
A2M Stock Price and Chart — ASX:A2M — TradingView
DMP Stock Price and Chart — ASXMP — TradingView
CHN Stock Price and Chart — ASX:CHN — TradingView
CCX Stock Price and Chart — ASX:CCX — TradingView

...now you are seeing these ones that could possibly emulate those past hero stocks to completing the giant X-mas tree formation. ZIP has already done so despite recent exuberance, while both PLS/LTR are more than half way through.
ZIP Stock Price and Chart — ASX:ZIP — TradingView
PLS Stock Price and Chart — ASXLS — TradingView
LTR Stock Price and Chart — ASX:LTR — TradingView