Rising channel NVDA

28 Haz

NVDA looks to be range bound within a rising channel since November 2023. Bounced off the channel top on June 18th and has been heading downwards for the past 10 days. A break of this channel to the upside or downside would indicate significant bullish or bearish momentum. I'll keep on eye on this channel and update as it progresses.

17 Tem

Not

We now look to be approaching the bottom of the channel. A close below $115-116 level could mean a significant move further down. A bounce upwards would mean continuation of the rising channel.

25 Tem

Not

NVDA has now closed below the channel, the first time since it entered this rising channel around October 30 last year. From a chart perspective, I don't see a clear support now until it gaps down to the 100 DMA which sits around $100-105. If it breaks that then we head down towards the 200 DMA which will be around $80-85.