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Reversal Pattern in NVDA: A Temporary Cool Off or a Major Trend In this article, I will discuss the head and shoulders reversal pattern observed in NVIDIA stock. Recently, the stock has experienced a significant uptrend, rising approximately 48% after the completion of a larger inverted head and shoulders pattern. However, recent price action on lower timeframes suggests a smaller head and shoulders pattern is forming, potentially indicating a temporary cool-off phase. I will analyze this pattern in-depth and explore its possible implications on NVDA's future price movements. Larger Inverted Head and Shoulders Pattern The larger inverted head and shoulders pattern that played out in NVDA's price action led to a substantial gain of approximately 48%. This bullish pattern indicated that buyers were in control and that the stock was poised for a significant upward move. As a result, NVDA saw a strong rally, reaching new highs for 2023. Smaller Head and Shoulders Pattern Despite the impressive gains, a smaller head and shoulders pattern has emerged on lower timeframes. This bearish pattern suggests that NVDA may experience a temporary cool-off phase in the coming weeks. Considering the rapid price increase, it is not unusual for a stock to undergo a short-term correction before continuing its uptrend. Comparing NVDA with AAPL and TSLA Similar to NVDA, other tech giants like Apple (AAPL) and Tesla (TSLA) have also performed exceptionally well in recent weeks. It is expected that these stocks, too, may face a temporary cool-off phase as the market undergoes a period of consolidation. Possible Price Scenarios As we analyze the head and shoulders pattern on NVDA, several price scenarios emerge: If NVDA breaks the $263 support level, the cool-off period indicated by the head and shoulders pattern may occur, and the stock could pull back to $238. A further decline to HKEX:215 would signal a potential buying opportunity for a bounce. However, given the strong upward trajectory from HKEX:138 to FWB:280 , this scenario seems less likely. Our stretch goal for NVDA remains around HKEX:337 , suggesting that the stock could reach new highs in 2023 if the bullish momentum continues. The head and shoulders reversal pattern on NVDA's lower timeframes indicates a potential cooling off period for the stock. While it is natural for a stock to undergo a short-term correction after a strong rally, the bigger question remains whether this is a major trend shift or a temporary pullback before reaching new highs (for 2023). As investors and traders, it is crucial to closely monitor price action and key support levels in order to make informed decisions in the face of market uncertainty.
NASDAQ:NVDAShort
by bitdoctor
7
Dollar Hits Support. Now Bounce. Everything Else? Pulls Back.Traders, I said it all in the title. Yes, the dollar has now conclusively formed a very ominous Head and Shoulders pattern. The dollar will die once (not if) it breaks that neckline. But do I think that is going to happen immediately. I think you all know the answer. News has hinted at a Fed rate hike pause this week. Next week another news story will come out. I think caution is warranted here. Personally, I'm going to sit the sideline this weekend and play it safe. There will always be more opportunity in the future. Always. Best, Stew
TVC:DXY
by stewdamus
2
Bitcoin Short-Term Support & Resistance AnalysisPrices move because of supply and demand . When demand is greater than supply, prices rise. When supply is greater than demand, prices fall. Sometimes, prices will move sideways as both supply and demand are in equilibrium. When support and resistance lines are broken, there is a high possibility of a significant uptrend in that direction. Be aware of the stop-loss area when trading on margin ⓡ Resistance Line 28952$ ⓡ Resistance Line 28549$ ⓡ Resistance Line 28300$ ⓢ Support Line 27881$ ⓢ Support Line 27617$ The above price level represents an important tipping point, not an absolute analysis for buying and selling. You must be careful about your investment decisions. Thank you for reading my poor analysi
by WhaleGO_BTC
Rollover Parralel channel updateUpdate of the previous parralel channels post . So far both our channels have played out well, apart from the retest and rejection from our green channel. If the red channel plays out like the others we should start to see a steeper decline from this point on. 🤞 This would also fit the narrative of the cypher harmonic Iv been watching for (see other posts on my profile) Any questions or if you don't agree please comment and let me know. Love a discussion
COINBASE:BTCUSDShort
by Connix
EURUSD : Bear's Can fight Back from major resistance OANDA:EURUSD Hi , trader's .. As per technical analysis , it's visible that market is near to major resistance price can possibly form double top which can lead market to downside As price reject from this important resistance there is possible chance of Hanging man or doji candle formation Any reversal shape candle will be helpful for bear's to take there selling position's ❤️Please, support my work with follow ,share and like, thank you!❤️
Short
by INVESTRONE
The FED HAS already pivoted! Who cares what the FED does next?Apologies for the click-baity title, but I did want to get your attention to make (once again) my point that inflation is ON now and that the FED has actually pivoted while many are watching and don't see it that way. Let me explain. Back when the FED started raising rates rapidly I grew worried that at this unprecedented pace of rate hikes, something would break. I stated this all along through each of my post. Foolish people and businesses simply do not have the acumen to hedge against the rapidity of dried-up liquidity in the markets. I did not know the banks would become the first culprit exposed in their foolish investment endeavors. But here we are. Banks are failing because of their own stupidity and guess who gets to pay for it once again? That's right, you and I do through the continued devaluation of our U.S. dollar. "But the dollar's getting stronger", you emphatically retort. Yes. It was. As the FED moved to increase rates in a reactionary manner, as they always are, the dollar did gain strength and is currently fairly strong, relatively speaking. However, things will soon change and many do not even know it as they are focused on the wrong indicator, FED rate hike action and future interest rates. While this is certainly still important, it does not tell the whole story. As you know, I have been calling for a pause or pivot from the FED soon. That pivot has already come. "How so?", you asked. The FED has not articulated strong indicative language regarding a pause or pivot. That's true. But while the banks were failing, the FED did begin to guarantee depositors their money due to 'systemic risks'. I've heard this before (think 2008 and the BIG 3). In guaranteeing depositors their funds, the FED mushroomed its balance sheet by roughly $300 billion dollars last week alone! And this may just be the beginning! Incredible. This is the pivot that I was looking for from the FED. So, while everyone else continues to focus on what the FED will do next in terms of interest rates, savvy investors have already spotted the change and recognize that it's now inflation ON! This subtle (or not so subtle, pending perspective) change in direction correlates with three important thesis points that I have been making all along: That something will break That the FED will pause/pivot That we will see a blowoff top in the US stock market It also aligns with current technicals. As you can observe from the chart above, price action has retested our macro-downtrend line precisely as anticipated, has bounced from there as anticipated, and is currently trending up as anticipated. I do believe this is the beginning of our blowoff top with a price target of US500 to be at or around $5,500 to $6k by early to late fall. Maybe early winter. Timing is difficult. Best to you all, Stew
ULong
by stewdamus
2
EURNZDEURNZD has been examined in different dimensions: 1- Strong supply and demand levels that I identify with my own indicator and system. 2- The structure of recently formed waves 3- Current market momentum 4- The structure of classical and price patterns In this idea, I identified the direction of the market in different ways and in the second step, I analyzed the potential of continuation or reversal. Usually, paying attention to the trend and strength of the trend can greatly increase the accuracy of the analysis. In general, I tried to describe the continuation of the movement in the simplest possible way in the diagram. ⚠️ Disclaimer: This is a personal opinion and you are responsible for any trading decisions.
Short
by HamidRamezani1992
OPUSDT Testing important supportSUPPORT: $1.60 RESISTANCE: $3.20 Targets on chart for both scenarios. As the sun set over the sprawling city, a gentleman sat quietly in his study, watching the ticker tape on his desk. The name on the tape read "OPUSDT", a curious name for a most curious asset. The gentleman had been keeping an eye on this asset for some time now, and despite his initial reservations, he had grown quite fond of it. However, his fondness was now being tested. OPUSDT was approaching a critical level, a level that would determine its future trajectory. If it held this level, the gentleman believed that OPUSDT would soar to the lofty heights of $6.00 (six dollars). The gentleman knew that he was taking a risk by investing in such an asset. But he was a man of conviction, and he trusted his instincts. He knew that if he played his cards right, he could come out on top. And so he sat in his study, watching the ticker tape with bated breath. As the price of OPUSDT approached the critical level, his heart raced with anticipation. He knew that this was a pivotal moment, one that would determine the fate of his investment. Finally, the moment arrived. The price of OPUSDT hovered at the critical level, teetering on the edge. The gentleman held his breath, watching intently as the price fluctuated. Investing is a game of patience and wisdom. One could not simply throw their money into the market and hope for the best, for that would be the way of a fool. No, one has to wait for the price action to pivot and climb before investing, for that is the mark of a wise and cunning investor. Such an investor carefully watches the movements of the market, studying its ebbs and flows, waiting for the opportune moment to strike. For they know that to invest too early or too late was a sure path to ruin. And so they wait, biding their time with the utmost patience and restraint, until the moment was just right. Then, and only then, they make their move, with confidence and resolve, knowing that they had chosen wisely.
by bitdoctor
SPX: This Could Change Everything. 👀• The SPX successfully rejected the Below the Stomach candlestick pattern from yesterday, and it failed in breaking the support at 4,015; • This is a sign of strength, and makes a correction to the 21 ema less likely; • The trend is still bullish, as it is still doing higher highs/lows, above the 21 ema (D), and there’s no clear reversal sign on it yet; • Although the SPX rejected the Below the Stomach from yesterday, it has yet to break the resistance at 4,100; • The 4,100 is a bullish pivot point, as seen in the weekly chart, and would be the first one since the bear market started in January 2022 - this could change everything and put an end on this bear market. The index already did an upwards breakout from the Descending Channel seen in the W chart; • For now, the key points are 4,100 and 4,015. I’ll keep you updated on this. Remember to follow me to keep in touch with my daily analyses!
SP:SPX
by Nathan_The_Finance_Hydra
3
Buy TSLA in DecemberI think Tesla will be a good buy for December! NASDAQ:TSLA has reached the lows of March 2021 ($179). The Hazel Heritage Indicator gave me my favorite signal, which is the "untested low", pointing out when price has crossed through a pivot low that has never been tested before. This signal has a 92% success rate of creating a new pivot low. Price also has came back down to test the all-time high of $167. Therefore I'm bullish on Tesla going into the month of December!
NASDAQ:TSLALong
by jeanius_tech
3