Looks like a Bull flag is waving up there. There is also a recent divergence between price and RSI that some would like to be aware of. A flag is basically a pull back and may correct the divergence. Sometimes it can take a while for a divergence to show up. This is a bearish divergence as price went up and RSI slopes down. This divergence is also apparent of the weekly timeframe.
NVDA has hit targets one for the symmetrical triangle pattern.
This is not to long entry level for the flag yet.
Beware of the divergence if those bother you. Not everyone takes them as seriously as others as we are all different. A divergence can take a while to catch up with price. But it is something to be aware of.
No recommendation.
Bull flags do not always break to the upside. It is really a neutral pattern until a break of the top trendline which is resistance is accomplished with an uptrend in place. It is a pull back pattern and a pattern of consolidation. It can also be a continuation pattern. The flag should last less than 3 weeks in formation and should not become longer than the pole can support. A tight flag often performs better than a loose flag (where the candles are gappy inside)
NVDA has hit targets one for the symmetrical triangle pattern.
This is not to long entry level for the flag yet.
Beware of the divergence if those bother you. Not everyone takes them as seriously as others as we are all different. A divergence can take a while to catch up with price. But it is something to be aware of.
No recommendation.
Bull flags do not always break to the upside. It is really a neutral pattern until a break of the top trendline which is resistance is accomplished with an uptrend in place. It is a pull back pattern and a pattern of consolidation. It can also be a continuation pattern. The flag should last less than 3 weeks in formation and should not become longer than the pole can support. A tight flag often performs better than a loose flag (where the candles are gappy inside)
Comment:
W