Nvidia - A Correction Of -50% Is Starting!

5 Eyl

Nvidia (NVDA) is reversing at a strong resistance:



Click chart above to see the detailed analysis👆🏻

Last month Nvidia already corrected about -35% but managed to close with an indecision doji candle. However, previous cycles, the recent rally of +1.000% and the fact that Nvidia is retesting a strong resistance trendline all suggest that Nvidia will still move much lower soon.

Levels to watch: $100, $55

Keep your long term vision,
Philip (BasicTrading)

11 Eyl

İşlem aktif

Trading update on Nvidia (NVDA):



Click chart above to see the detailed analysis👆🏻

Despite the recent strength of Nvidia, a correction following the previous cycles is still quite likely. Just remember that stocks don't drop -50% out of nowhere but there always has to be a consolidation and distribution phase before such a strong stock can start the correction.

Levels to watch: $120, $60

Keep your long term vision,
Philip (BasicTrading)