NVDA now at 1.618 Fib extension. Expecting a pull back here.
Wait for lower time frame topping pattern to emerge before entry.
May need to test the 700 zone before reversal.
Daily RSI plus 80.
Stoch 5,1,1 plus 80
Targets on reversal confirmation would be:
9 ema
21 ema
Green box.
Wait for lower time frame topping pattern to emerge before entry.
May need to test the 700 zone before reversal.
Daily RSI plus 80.
Stoch 5,1,1 plus 80
Targets on reversal confirmation would be:
9 ema
21 ema
Green box.
Comment:
The Double Top yielded a move down to 663. Price now trying to recover and hitting neckline resistance. If price breaks to the downside a retest of recent lows is likely and potentially 640. If it breaks to the upside a retest of the ATH is possible.
Comment:
NVDA
broke to the upside and the ATH target was hit. Now watching the larger potential double top. Break of the upward trendline here would be bearish. Break of the neckline could yield a move down to 630.
NVDA
broke to the upside and the ATH target was hit. Now watching the larger potential double top. Break of the upward trendline here would be bearish. Break of the neckline could yield a move down to 630.
Comment:
Larger double top did not confirm. The upward trendline held and new high was made. Upside pysche targets in play now. 725/750. Bears will need a negative news even to break this powerful uptrend.
Comment:
Topped out at on run to 750. CPI was the bad news that has broke the trend. Will have to see what happens at the open but now 700/680/672 are in play to the downside.
Target on DT is 660.
9 ema comes in at 642.
Can rip back higher at any time.