With growing tensions between the two economical titans in U.SA & China further exasperated by the new administration in the white house & their looming tariff charges, we arrive at a major junction with what seems to be the worst possible time as Nvidia a major pillar of the recent success enjoyed by the tech industry and no doubt world economy as a by product gears up its financial data at a time where stains are being spotted on the floor leading to early signs of blood on the streets. Technical analysis shows that decline in price action could see a weak end of the month for Nvidia, the market is showing signs of fear with a large selloff in the tech sector with the S&P dropping 2.25% week ending 21/02, if financial data released by Nvidia is not pleasing to shareholders a major sell of could continue what was started in December and see price head to as low as $46. Eyes will also be on the situation of Taiwan and how hostile the relationship becomes between the USA, China & Taiwan.
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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.