NVDA is inside the biggest and most impressive symmetrical triangle I've seen in a long time. As it's also known as a continuation pattern, there is a higher chance of a breakout, potentially reaching an all-time high very soon.
The RSI and MACD, after showing significant bearish divergences, are now stable and indicate the possibility of a new upward move. The MACD has a positive cross and green candle.
If NVDA gathers strength and volume to break above the upper trend line, we could see a very powerful and aggressive move beyond 150.
On the other hand, if the breakout fails, it may indicate that NVDA has reached a high that won't be surpassed for years or even decades.
In my assessment, there is an 80% chance of a breakout to a new all-time high due to several factors: positive momentum, a likely rate cut by the Fed, the cooled-down RSI and MACD, the fact that this is a continuation pattern and not a reversal, and most importantly, the Advance-Decline line has already made a higher high while SPY has not, which is very bullish for stocks.
The RSI and MACD, after showing significant bearish divergences, are now stable and indicate the possibility of a new upward move. The MACD has a positive cross and green candle.
If NVDA gathers strength and volume to break above the upper trend line, we could see a very powerful and aggressive move beyond 150.
On the other hand, if the breakout fails, it may indicate that NVDA has reached a high that won't be surpassed for years or even decades.
In my assessment, there is an 80% chance of a breakout to a new all-time high due to several factors: positive momentum, a likely rate cut by the Fed, the cooled-down RSI and MACD, the fact that this is a continuation pattern and not a reversal, and most importantly, the Advance-Decline line has already made a higher high while SPY has not, which is very bullish for stocks.
Note
Found resistance on upper line but is coiling. This will explode up verys likely.
But guys even if it break, what i assess it will, it could be last mega move toward 150. Some of you wont have time to sell.
Market crash is comming we all know that, so when this explode sell 50%, dont be greedy
Note
Nice
Consistency is the key of success....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Consistency is the key of success....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.