NVDA

14 Eyl 2022

Along with the rest of the market NVDA looks extremely bearish. Weekly RSI about to break support line again and daily RSI rolling over again. I think price will continue down until it hits the price support line drawn from COVID or it breaks that and hits $70. I think $100 is more likely for a good bounce, but only time will tell. With everything being as bearish as it is, I do not see NVDA holding up considering the restrictions imposed on semiconductor stocks. A weekly close again below the golden pocket and then under the AVWAP would be further confirmation of a longer drop. Targets laid out. If all else fails, that is why we have stop losses.