Nvidia remains in a broader uptrend, but the chart shows a clear trendline breakout followed by the beginning of a pullback.
Using Fibonacci, a correction typically starts after a red candle forms following a sequence of green candles. In most cases, the pullback continues toward the 0.5 retracement level. In this setup, the 0.5 level aligns with a major key support, increasing its importance.
On the weekly timeframe, the 50 EMA is also converging at the same zone, which often acts like a magnet for price. This creates multiple confirmations pointing toward a potential move downward.
The weekly chart has printed a bearish engulfing, followed by three consecutive red candles, adding another strong confirmation for a continued correction.
Both MACD and RSI are sloping downward, supporting the bearish momentum.
If price reaches the expected zone, monitoring the reaction will be critical. A deeper decline into the global trendline is possible only if the key level is broken, though this scenario appears less likely.
Overall, NVDA shows several aligned signals indicating a move toward the correction zone before any potential recovery.
Using Fibonacci, a correction typically starts after a red candle forms following a sequence of green candles. In most cases, the pullback continues toward the 0.5 retracement level. In this setup, the 0.5 level aligns with a major key support, increasing its importance.
On the weekly timeframe, the 50 EMA is also converging at the same zone, which often acts like a magnet for price. This creates multiple confirmations pointing toward a potential move downward.
The weekly chart has printed a bearish engulfing, followed by three consecutive red candles, adding another strong confirmation for a continued correction.
Both MACD and RSI are sloping downward, supporting the bearish momentum.
If price reaches the expected zone, monitoring the reaction will be critical. A deeper decline into the global trendline is possible only if the key level is broken, though this scenario appears less likely.
Overall, NVDA shows several aligned signals indicating a move toward the correction zone before any potential recovery.
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إخلاء المسؤولية
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.