Get started

Nvda_analysis

NVDA channel.We see a long-term channel (purple lines). It started in 2016. In October 2018, it was broken. Then the "Diamond" model was formed. And the growth began until March 2020. Then the price of April 2020 pushed off from the support of the "diamond" and took a course sharply up to rejoin the old purple trend. Today we are near the trend resistance, the peak growth is limited to $620-630 and the stabilization in the range of $605-615 at best. In the worst case, close to the day of the report, the price will draw something similar to the "Double Top" model and, breaking through the "neck" level, will go down to the support of the channel - to $525.
NASDAQ:NVDA
by Dr_Chester
2
NVDA CORRECTION MORE BEARS TO COMENvidia is pulling back, no prominent reason or news article that could have caused this, that leaves the next possible scenarios: - NVDA was rated overvalued by many analysts and is now drawing back - Covid market volatility is causing unpredictable movements - Upcoming US elections, many worry about the China tension According to the chart we are close to the first possible support. However if that level doesn't hold, next support line is only around $485. Yahoo Finance estimates a -21% pullback as an overvalued stock. That leaves us at roughly 418. eToro estimates a low of $400. However, the long term outlook is still positive. Monitor these 4 indicators to look out for a trend reversal and buy the dip as low as you can. Hit like if you found this helpful. Thanks, Ev
NASDAQ:NVDA
by BlockTechEv