Critical support 100 dma

30 lug

A mentioned in my previous idea NVDA fell below a long term rising channel is has been in since October 2023. The next level of support I see is the 100DMA which it is approaching now around $103-$104. A break below this critical level could see significant further downside to around $75-$80. We will find out this week.

2 ago

Nota

NVDA bounced strongly off 100 DMA, but was rejected before entering the previous rising channel at around $117-$118. APPL and AMZN have not helped the situation.

I think we see a strong retest of the 100 DMA today at around $104. If it breaks, I then see NVDA dropping to some minor supports at $96 and $90 before worst case heading down to the 200 DMA at approximately $80.

Interesting day ahead!