NVDA
could see further pull back. Both MACD and RSI are showing bearish divergence and have been for a while. I have called out this bearish divergence before in my previous post. Its trading inside an ascending broadening wedge pattern. If the price breaks below $409, it could accelerate the price break down as volume below is thin with a big air pocket below it.
Here are the target levels below:
- $409
- $351
- $305
$305 is the 50% Fib retracement and 200DMA area.
Nvidia has surprised us before with recovering without breaking down below $409.
Will this time be different?