NVDA: Doing as planned. Could it keep climbing?
• NVDA is still in a bear trend, doing lower highs/lows, while trading below the 21 ema;
• In theory, the 21 ema is supposed to work as a resistance, and NVDA would perform a top sign in this area before resuming the bearish sentiment;
• In this scenario, we would just head to the $115, the next support level;
• However, if NVDA breaks the 21 ema, and closes a candlestick above it, then it might seek the $144 next. This wouldn’t be a reversal sign yet, but could be the beginning of one;
• If NVDA triggers a reversal sign in the future, the next resistance to work with would be the $192;
• Read my last analysis on NVDA for more details on what it takes for NVDA to reverse (link to it is below this post);
• For now, there’s no evidence of a reversal, but it is important to keep an eye on the 21 ema in the daily chart for now, as this is the most important resistance in the short-term for NVDA;
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
• In theory, the 21 ema is supposed to work as a resistance, and NVDA would perform a top sign in this area before resuming the bearish sentiment;
• In this scenario, we would just head to the $115, the next support level;
• However, if NVDA breaks the 21 ema, and closes a candlestick above it, then it might seek the $144 next. This wouldn’t be a reversal sign yet, but could be the beginning of one;
• If NVDA triggers a reversal sign in the future, the next resistance to work with would be the $192;
• Read my last analysis on NVDA for more details on what it takes for NVDA to reverse (link to it is below this post);
• For now, there’s no evidence of a reversal, but it is important to keep an eye on the 21 ema in the daily chart for now, as this is the most important resistance in the short-term for NVDA;
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
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