NVIDIALong
Ascending Triangle Breakout - New 52 Week High Inbound
NVDA price action continues to be bullish and is shaping up to form an ascending triangle pattern straight out of the book. We can see from the pink trend line that price action continues to make higher highs and higher lows and we can see that we are potentially running out of room. We can see here on the daily that the candle closed very bullish at a daily resistance level of $145.26 and had enough power to punch through the previously resistance at $139.56. If price fails to break $145.26, the former resistance at $139.26 will now become support and we can see, looking left, that this scenario has been playing out time and time again. If price goes and retests $139.56, I think that would give it enough power to break and close above $145.26 and very shortly thereafter, break and close above the all time high of $152.89.
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