Nvidia remains in a broader uptrend, but the chart shows a clear trendline breakout followed by the beginning of a pullback.
Using Fibonacci, a correction typically starts after a red candle forms following a sequence of green candles. In most cases, the pullback continues toward the 0.5 retracement level. In this setup, the 0.5 level aligns with a major key support, increasing its importance.
On the weekly timeframe, the 50 EMA is also converging at the same zone, which often acts like a magnet for price. This creates multiple confirmations pointing toward a potential move downward.
The weekly chart has printed a bearish engulfing, followed by three consecutive red candles, adding another strong confirmation for a continued correction.
Both MACD and RSI are sloping downward, supporting the bearish momentum.
If price reaches the expected zone, monitoring the reaction will be critical. A deeper decline into the global trendline is possible only if the key level is broken, though this scenario appears less likely.
Overall, NVDA shows several aligned signals indicating a move toward the correction zone before any potential recovery.
Using Fibonacci, a correction typically starts after a red candle forms following a sequence of green candles. In most cases, the pullback continues toward the 0.5 retracement level. In this setup, the 0.5 level aligns with a major key support, increasing its importance.
On the weekly timeframe, the 50 EMA is also converging at the same zone, which often acts like a magnet for price. This creates multiple confirmations pointing toward a potential move downward.
The weekly chart has printed a bearish engulfing, followed by three consecutive red candles, adding another strong confirmation for a continued correction.
Both MACD and RSI are sloping downward, supporting the bearish momentum.
If price reaches the expected zone, monitoring the reaction will be critical. A deeper decline into the global trendline is possible only if the key level is broken, though this scenario appears less likely.
Overall, NVDA shows several aligned signals indicating a move toward the correction zone before any potential recovery.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.