NVDA has earnings this week and is completing its accumulation, should test 166 before the report but is in buy zone from 166-175. The semiconductors are bullish across the sector, most have completed their bullish cycles and will begin next wave at larger degree - this will take the market higher and on to new highs in early 2023.
NVDA expected price action:
- gap up toward 194-198 and continue to 207-217 by 9/9/2022
- retest breakout level/upper range of accumulation structure in upper 190s, then run to primary target of 230 by end of Sep. '22 (there is also a gap to fill there from a few months back. At this point its impulse trajectory will be clear and can get a new goal target (subwave 5, count not shown), est. 242-257 (another open gap at 257)
- Goal target and resistance is 280s by end of 2022
Stochastic RSI is very bullish and signals accumulation period is completed (or will complete around 166 - not required condition just estimate, it could markup from here). The markup will be activated above 191.
NVDA expected price action:
- gap up toward 194-198 and continue to 207-217 by 9/9/2022
- retest breakout level/upper range of accumulation structure in upper 190s, then run to primary target of 230 by end of Sep. '22 (there is also a gap to fill there from a few months back. At this point its impulse trajectory will be clear and can get a new goal target (subwave 5, count not shown), est. 242-257 (another open gap at 257)
- Goal target and resistance is 280s by end of 2022
Stochastic RSI is very bullish and signals accumulation period is completed (or will complete around 166 - not required condition just estimate, it could markup from here). The markup will be activated above 191.