NVDA is in a huge rising wedge and is extremely overbought. The worst thing of all is NVDA is bearish fundamental stock with no bright future. NVDA did only rise more than 150% because of lies about AI. AI here AI there, and now when the last mom-and-pop retail traders bought at the top we are ready for the major collapse of price.
Furthermore, it formed a shooting star reversal pattern or some kind of Gravestone Doji reversal pattern on the top, which is really very bearish, especially due to the fact it had so much volume.
NVDA RSI and MACD is way way overbought and both have strong negative divergences which indicate the fake pump is over and NVDA is hardly staying at these levels.
In the end with Powell's testimony and Yellen's testimony yesterday, I really don't understand how anyone can be positive and bullish. If the FED boss and Tresurry boss can't answer simple questions about banks and security, I don't know how regular US citizens can be positive on banks or systems.
Therefore it is a pure sell signal with the first target at BigRed and the second likely below 100!
Furthermore, it formed a shooting star reversal pattern or some kind of Gravestone Doji reversal pattern on the top, which is really very bearish, especially due to the fact it had so much volume.
NVDA RSI and MACD is way way overbought and both have strong negative divergences which indicate the fake pump is over and NVDA is hardly staying at these levels.
In the end with Powell's testimony and Yellen's testimony yesterday, I really don't understand how anyone can be positive and bullish. If the FED boss and Tresurry boss can't answer simple questions about banks and security, I don't know how regular US citizens can be positive on banks or systems.
Therefore it is a pure sell signal with the first target at BigRed and the second likely below 100!
Consistency is the key of success....
