NVDA PRICE CHANNELWho doesn't know NVIDIA? If you're reading this, all you need to do is dismantle your PC and you'll certainly find components inside manufactured by the semiconductor manufacturer leader.
Although price is at rich valuations, technical analysis shows a price channel intact while consolidating for the past four weeks setting up for a Blue Sky Breakout. It's not too late to participate in a potential explosive price action on this stock. Consolidation above the 20-day EMA is as solid as it can get. A counter trend break a few days ago validates what could potentially be a trend continuation. A false breakout last week is just an indication of buying interest on the stock. Similar to its competitor in the semiconductor sector is AMD with a much more volatile and longer consolidation and still hasn't broken its previous February high. This clearly cements NVDA's leadership in the sector.
