The Probabilities are stacking up that Nvidia has Topped
As I have long forecasted, Nvidia is coming into a top of either primary or intermediate degree proportion. The answer to that burning question of mine I believe gets answered in the depth of the price action's retracement lower.
Determining this answer, for me personally as an analyst, is whether or not that eventual retrace can hold above the $90.68 level, which as of this morning stands at 34% lower...so by no means am I looking at this as a mere retracement. 34% is nothing if not significant.
Along the way, we're more informed in the confidence of this forecasted pathway, if price breaches the important $128.74 level. Upon seeing such price action, I believe in the weeks (or months) ahead we could see Nvidia's price action first test $102.73 area. To hold that level and reverse in a micro 5-wave pattern, could bring about our final advance into the $170 (+) area for a long term top. That top I am forecasting in years...not months.
To breakdown below $102.73 could see us decline to as low as the low $70's before a corrective (but Tradeable) rally takes place.
Best to all,
Chris
Determining this answer, for me personally as an analyst, is whether or not that eventual retrace can hold above the $90.68 level, which as of this morning stands at 34% lower...so by no means am I looking at this as a mere retracement. 34% is nothing if not significant.
Along the way, we're more informed in the confidence of this forecasted pathway, if price breaches the important $128.74 level. Upon seeing such price action, I believe in the weeks (or months) ahead we could see Nvidia's price action first test $102.73 area. To hold that level and reverse in a micro 5-wave pattern, could bring about our final advance into the $170 (+) area for a long term top. That top I am forecasting in years...not months.
To breakdown below $102.73 could see us decline to as low as the low $70's before a corrective (but Tradeable) rally takes place.
Best to all,
Chris
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.