If Nvidia can break out, 170 is in the cards
Nvidia has experienced significant volatility over an extended period. However, it appears poised to enter a new phase of price discovery in the near future. Currently, the stock is approximately 6% below its all-time high, and a breakout above this level could signal movement towards the next resistance zone around 170. This target is supported by both a 1-to-1 extension and a 1.618 Fibonacci expansion.
With 37 days remaining until the next earnings release and the upcoming presidential elections, heightened volatility is expected. It is possible that Nvidia may reach the 170 level in the coming months.
With 37 days remaining until the next earnings release and the upcoming presidential elections, heightened volatility is expected. It is possible that Nvidia may reach the 170 level in the coming months.
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