NVIDIA Corporation (NVDA) breached today its 1D MA50 (blue trend-line) for the first time in exactly 2 months (since April 09). This is the first medium-term Support of the market and as long as the price is closing daily candles above it, a rebound is in order.
If it closes below it though, expect continuation of the bearish trend towards the 1W MA50 (black trend-line) at least, targeting $188.00. Technically the sequence since the May 14 All Time High (ATH) is the new Bearish Leg of the 1.5-year Ascending Triangle and so far is similar to the first one in November - December 2025. Even their 1D RSI fractals are similar.
Based on this symmetry, the current correction can extend as low as the 0.868 Fibonacci retracement level at $172.50, which would make an ideal technical test of the 1W MA100 (red trend-line), the market's key long-term Support.
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If it closes below it though, expect continuation of the bearish trend towards the 1W MA50 (black trend-line) at least, targeting $188.00. Technically the sequence since the May 14 All Time High (ATH) is the new Bearish Leg of the 1.5-year Ascending Triangle and so far is similar to the first one in November - December 2025. Even their 1D RSI fractals are similar.
Based on this symmetry, the current correction can extend as low as the 0.868 Fibonacci retracement level at $172.50, which would make an ideal technical test of the 1W MA100 (red trend-line), the market's key long-term Support.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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