NVDA is inside the biggest and most impressive symmetrical triangle I've seen in a long time. As it's also known as a continuation pattern, there is a higher chance of a breakout, potentially reaching an all-time high very soon.
The RSI and MACD, after showing significant bearish divergences, are now stable and indicate the possibility of a new upward move. The MACD has a positive cross and green candle.
If NVDA gathers strength and volume to break above the upper trend line, we could see a very powerful and aggressive move beyond 150.
On the other hand, if the breakout fails, it may indicate that NVDA has reached a high that won't be surpassed for years or even decades.
In my assessment, there is an 80% chance of a breakout to a new all-time high due to several factors: positive momentum, a likely rate cut by the Fed, the cooled-down RSI and MACD, the fact that this is a continuation pattern and not a reversal, and most importantly, the Advance-Decline line has already made a higher high while SPY has not, which is very bullish for stocks.
The RSI and MACD, after showing significant bearish divergences, are now stable and indicate the possibility of a new upward move. The MACD has a positive cross and green candle.
If NVDA gathers strength and volume to break above the upper trend line, we could see a very powerful and aggressive move beyond 150.
On the other hand, if the breakout fails, it may indicate that NVDA has reached a high that won't be surpassed for years or even decades.
In my assessment, there is an 80% chance of a breakout to a new all-time high due to several factors: positive momentum, a likely rate cut by the Fed, the cooled-down RSI and MACD, the fact that this is a continuation pattern and not a reversal, and most importantly, the Advance-Decline line has already made a higher high while SPY has not, which is very bullish for stocks.
Consistency is the key of success....
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Consistency is the key of success....
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.