NVDA: You must pay attention to these key points now!
Hello traders and investors! Let’s see how NVDA is doing today!
Since our previous study, last week, I told you that I wasn’t convinced of anything on NVDA, and this purple trendline was one of the reasons. Today, NVDA is retesting it for the sixth time, but unlike a week ago, this time we have more chances of defeating it (link to my previous analysis is below this post, as always).
What NVDA did can be considered a sideways correction, and the stock spent the last week accumulating its energies before another breakout. By defeating the purple trendline, the $ 198.80 is the next target, and a key point seen in the daily chart.
The $ 198.80 is a pivot point seen in the daily chart, and if defeated, it’ll lead NVDA to the ATH, or even above it. Honestly, I think NVDA should spend more time accumulating, but if the momentum is strong (like we see on AAPL), it’ll be very hard for it to drop.
On the other hand, if we lose the $ 187.41 we’ll create a bearish structure, and seek the 38.2% Fibonacci’s Retracement again.
Either way, the volume is still quite low, and we must see it increasing in the next few days.
If you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea if you liked it!
Thank you very much!
Since our previous study, last week, I told you that I wasn’t convinced of anything on NVDA, and this purple trendline was one of the reasons. Today, NVDA is retesting it for the sixth time, but unlike a week ago, this time we have more chances of defeating it (link to my previous analysis is below this post, as always).
What NVDA did can be considered a sideways correction, and the stock spent the last week accumulating its energies before another breakout. By defeating the purple trendline, the $ 198.80 is the next target, and a key point seen in the daily chart.
The $ 198.80 is a pivot point seen in the daily chart, and if defeated, it’ll lead NVDA to the ATH, or even above it. Honestly, I think NVDA should spend more time accumulating, but if the momentum is strong (like we see on AAPL), it’ll be very hard for it to drop.
On the other hand, if we lose the $ 187.41 we’ll create a bearish structure, and seek the 38.2% Fibonacci’s Retracement again.
Either way, the volume is still quite low, and we must see it increasing in the next few days.
If you liked this analysis, remember to follow me to keep in touch with my daily studies, and support this idea if you liked it!
Thank you very much!
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