NVDA MAKES TEXTBOOK HEAD & SHOULDERS RETRACEAs the Q's bounce a bit today, NVDA has retraced from a break in the neckline (yesterday) of its current Head & shoulders pattern.
The possibility of some float upwards still exists, with a what looks to me to be a likely break back down in the near future, so here are some interesting levels of confluence to consider.
Note the correlations in support levels (both diagonal and horizontal), trend lines, a long term parallel channel, a fib retrace, and upper resistance levels.
While I a greet that NVDA has a bright long-term future, apparent capital rotation, a decrease in demand (should inflation remain steady or increase), unchanged interest rates, and any economic slowdown may push NVDA's near/short term path downward.
