NVDA: Heading to the next support level! What to expect?

٢٩ سبتمبر ٢٠٢٢

• Since it lost the $134 support, NVDA is just heading to the $115, and there’s no technical evidence indicating it won’t do this, as we lack strength, and there’s not a single bottom sign at the moment;
• The $115 is a support level that dates back to 2 years ago, September 2020;



• In addition, the daily chart suggests a continuation of the bear trend. Since it performed the Double Top, as evidenced in the chart above, NVDA has been doing nothing but lower highs/lows;
• Only if it does a higher high/low again, and if it breaks the 21 ema as well, we might assume NVDA will do a recovery;
• For now, there’s no evidence of a recovery, but at $115 it might get oversold. Either way, we must wait for more confirmation.

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