Indeed, Nvidia is respecting the sequence of the bearish channel and bounced at point #5, moving downward.
Now, even though Nvidia is dropping, it remains quite strong. Could we see a rebound at the following levels?
113.50 to 115.25 (marked in the green zone)
If Nvidia bounces at these levels I mentioned, we will very likely see a channel breakout in the coming weeks.
But! If the price surpasses those two levels I mentioned, we could very likely see Nvidia testing the blue GAP zone for the third time or approaching point #6 (channel support).
Let’s see what happens this week.
Thank you for supporting my analysis.
Now, even though Nvidia is dropping, it remains quite strong. Could we see a rebound at the following levels?
113.50 to 115.25 (marked in the green zone)
If Nvidia bounces at these levels I mentioned, we will very likely see a channel breakout in the coming weeks.
But! If the price surpasses those two levels I mentioned, we could very likely see Nvidia testing the blue GAP zone for the third time or approaching point #6 (channel support).
Let’s see what happens this week.
Thank you for supporting my analysis.
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