Nvidia - A Correction Of -50% Is Starting!
Updated
Nvidia (
NVDA) is reversing at a strong resistance:
Click chart above to see the detailed analysis👆🏻
Last month Nvidia already corrected about -35% but managed to close with an indecision doji candle. However, previous cycles, the recent rally of +1.000% and the fact that Nvidia is retesting a strong resistance trendline all suggest that Nvidia will still move much lower soon.
Levels to watch: $100, $55
Keep your long term vision,
Philip (BasicTrading)
NVDA) is reversing at a strong resistance:Click chart above to see the detailed analysis👆🏻
Last month Nvidia already corrected about -35% but managed to close with an indecision doji candle. However, previous cycles, the recent rally of +1.000% and the fact that Nvidia is retesting a strong resistance trendline all suggest that Nvidia will still move much lower soon.
Levels to watch: $100, $55
Keep your long term vision,
Philip (BasicTrading)
Trade active
Trading update on Nvidia (NVDA):
Click chart above to see the detailed analysis👆🏻
Despite the recent strength of Nvidia, a correction following the previous cycles is still quite likely. Just remember that stocks don't drop -50% out of nowhere but there always has to be a consolidation and distribution phase before such a strong stock can start the correction.
Levels to watch: $120, $60
Keep your long term vision,
Philip (BasicTrading)
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