Hello Traders and Investors, today I will take a look at Nvidia.
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Explanation of my video analysis:
For more than 6 years Nvidia stock has been trading in a pretty obvious rising channel formation. At the moment Nvidia stock is actually retesting the upper resistance trendline. Considering that Nvidia stock also rallied 650% over the past couple of months, it is quite likely that we will see at least a short term correction towards the downside, retesting the previous all time high.
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Keep your long term vision, Philip (BasicTrading)
Comment
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Well guys, here you go - Nvidia down -8% in a single day...
And there is still some room towards the downside!
If you want me to keep you updated on Nvidia, I really appreciate if you hit that "Thumbs Up👍" button! Keep your long term vision.
Kib76
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Two points: It is great that you say the price levels because the screen is difficult to read on a mobile even when zooming in. Do you see the same for the other chip providers?
basictradingtv
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@Kib76, Thanks for No. 1 and yes, I do see the same behaviour on other chip providers (e.g. AMD)
it_will_fluctuate
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If NVDA and TSLA are unwinding at the same time that would seem like bad news - but maybe this money will be flowing into somewhere else? Thanks for the "long term vision"!
basictradingtv
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@it_will_fluctuate, money will definitely flow somewhere else as you mentioned - but so far I don't know where