• Since our previous analysis, NVDA did exactly what we expected it would, as it is correcting after touching a strong resistance level (link to my previous analysis is below this post, as usual);
• NVDA did a Double Top chart pattern, which brought some correction;
• Now NVDA is trading just around the dual-support area we mentioned in our last post (21 ema + purple trend line);
• If NVDA reacts and closes above the 21 ema / purple line, then it might resume the bullish sentiment;
• However, if it fails in reacting in this dual-support area, NVDA would reverse the mid-term bull trend, and the $150 would be the first support level on it;
• Therefore, this support area is critical for NVDA;
• It all depends on how it’ll react today. Either way, we’ll have our answer soon. I’ll keep you updated on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
• NVDA did a Double Top chart pattern, which brought some correction;
• Now NVDA is trading just around the dual-support area we mentioned in our last post (21 ema + purple trend line);
• If NVDA reacts and closes above the 21 ema / purple line, then it might resume the bullish sentiment;
• However, if it fails in reacting in this dual-support area, NVDA would reverse the mid-term bull trend, and the $150 would be the first support level on it;
• Therefore, this support area is critical for NVDA;
• It all depends on how it’ll react today. Either way, we’ll have our answer soon. I’ll keep you updated on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
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