NVDA not doing any better than the rest of the market. Tech sector getting hit pretty hard nowadays.
Descending triangle is confirmed with a price target of 66$. This target also corresponds to the 2019-2020 support level. Increases likeliness of happening.
250RSI under 50, not good. Death cross, 50MA crossed under 200MA. Not good. Negative RS. Not good.
Thank you sir, We all appreciate your abilities, sharing charts and Ideas. perhaps this will help someone out by losing less money. Be Careful trading. cheers
heavy_assault
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nvidia is doing far better than tech sector and other semis like amd. it should be at $110 already given how much nasdaq has dropped. they just won't let their precious darling nvda drop.
biggest bubble in nasdaq, without question.
LeLaf
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@heavy_assault, I'll have to agree. Just like watching a plane crash.
heavy_assault
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@LeLaf, this thing and google just won't drop, they always go up much more than the index on green days, and drop much less than index on red days. even apple and microsoft are falling, but nvda and google are baffling. being pumped up by manipulators.
heavy_assault
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@LeLaf, if this actually gets to $66 i will be buying quite a bit. fair value is pre covid highs at most. even intel during the dotcom bubble peak wasn't anywhere near as overpriced. nvidia is wayyyy too overhyped, its being priced to cure cancer, develop fusion, colonize mars, reverse aging.
@superiorJaguar24882, quantum computing is actually being developed right now and can do very simple tasks, but not by nvda. ibm google are examples i believe.
nvda should be $70 already, look at amd's chart, below pre covid peak. peak for nvda pre covid was $70. nvda is being held up by market manipulators who are completely infatuated with the nvda hype.