I know it is very brave of me to call a top in NASDAQ:NVDA here with all is going on in AI right now. But I can only analyse what the market is telling me right now.
And the market is telling me that a top might be in place. And here are 5 reasons why :
1. Fibonacci golden ratio on a weekly timeframe we are almost there. We see how the golden ratio it's splitting the 5 waves impulse up.
Even in Wave 5 we have a Fibonacci Golden ratio. This time is 0.618/0.382. They all point out to the same zone.
2. Bearish divergence between the price and MACD- Histogram and MACD lines
3.Kangaroo tail
The last bar is a sign of worry for the bulls.
4. Outside upper channel line
5. Quite a gap to the value zone. Which on a daily is between $675-$716.
and as bonus reason Steve Weiss just bought NASDAQ:NVDA
Of course there are a few reasons for the bulls as well. and NASDAQ:NVDA could go to the Moon.
What do you think. Bull or bear here?
Legal Disclaimer: The information presented in this analysis is solely for informational and educational purpose and does not serve as financial advice.
Not even close from the top bro, trade careful on this, chart analysis does not work on such events.
Alphamoney870
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you analyse so much technical parts of this chart however you fail to understand that this is driven entirely by fundamentals. Until the story changes this stock will continue up. Also calling a top doesn't make you brave it just makes you wrong.
WavesInvesting
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@Alphamoney870, will see if I am wrong or not. You know some take profits at these hights.
Liquidatedx
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@WavesInvesting yes “some” like day traders, the SHORT interest on this is below 1.5% vs 98.5 BUY majority WTH are you talking about bro!?. Not too late to flip positions.
bjorn2z
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@Alphamoney870, What fundamentals? P/S, P/E sustainable with current growth and margins forever? How did that work for CSCO in Y2K and for Tesla in Oct 2021?
Smart analysis. On a daily chart, NVDA is returning inside its Bollinger-Bands for a pause. It could retrace to volume/price around 731.27 as a support, and as time goes by, this should coïncide with its 20 days moving average that will have moving up. So Waiting for a Buy would be a nice occasion at this 731.27 Target.
gideondoteth
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You're trying to short the biggest hype cycle since mobile? Good luck.
burn3r777
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Nvidia has no top-- how dare you! Super Micro cannot trump NVDA... Personally owned several Nvidia products throughout my lifetime and dont see that trend changing.
WavesInvesting
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My title of the post is "A top in NVDA" big difference to " The absolute top in NVDA".