NVDA: What could REVERSE the trend?
Hello traders and investors! Let’s see how NVDA is doing today!
First, in the 1h chart, NVDA is losing its support levels, indicating to us that it is trying to fill the gap at $ 228.58. The volatility is very high, but the gap seems to be an important support level for us.
We don’t see any meaningful bullish reaction for now, but if we do, it would be a good sign, as NVDA is close to its support levels. In addition, we are still above the 61.8% retracement in the daily chart:
The problem is that it is too soon to say if NVDA will truly react from here, but today’s candlestick could be the beginning of something. But remember, we are still in a bear trend, and we don’t see a solid reaction so far.
In my view, NVDA must do a good candlestick pattern today, with good volume, and maybe I’ll consider a possibility of a reversal up to the purple trend line. Then we’ll see how to proceed.
I’ll keep you guys updated on it, so remember to follow me to keep in touch with my daily analyses.
First, in the 1h chart, NVDA is losing its support levels, indicating to us that it is trying to fill the gap at $ 228.58. The volatility is very high, but the gap seems to be an important support level for us.
We don’t see any meaningful bullish reaction for now, but if we do, it would be a good sign, as NVDA is close to its support levels. In addition, we are still above the 61.8% retracement in the daily chart:
The problem is that it is too soon to say if NVDA will truly react from here, but today’s candlestick could be the beginning of something. But remember, we are still in a bear trend, and we don’t see a solid reaction so far.
In my view, NVDA must do a good candlestick pattern today, with good volume, and maybe I’ll consider a possibility of a reversal up to the purple trend line. Then we’ll see how to proceed.
I’ll keep you guys updated on it, so remember to follow me to keep in touch with my daily analyses.
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