NVDA has been forming an ascending triangle over the past few weeks, with declining volume. Finally, it broke out yesterday, and today, we had a retest of the resistance line. NVDA was down about 1% earlier today however after a successful retest of the resistance line, it is now up 0.8% at the time of writing.
In terms of support, it seems the price has successfully bounced off the 50-Day SMA line. While an ascending triangle is bullish, the 200-Day SMA is likely going to be a point of resistance (around $125).
This is amid the renewed overall market strength and the news related to the reduced limitations of exporting AI chips - which is contributing to the momentum.
Please note: Not financial advice.
In terms of support, it seems the price has successfully bounced off the 50-Day SMA line. While an ascending triangle is bullish, the 200-Day SMA is likely going to be a point of resistance (around $125).
This is amid the renewed overall market strength and the news related to the reduced limitations of exporting AI chips - which is contributing to the momentum.
Please note: Not financial advice.
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.
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.