The NVDA stock just hit its highest price since March. Today it moved above resistance while producing a perfect ascending triangle pattern.
This is a major development because the resistance level that was broken today, 114, rejected growth a total of 4 times. NVDA moving above this level confirms the continuation of the bullish move coming from a technical analysis perspective.
Just to be unbiased, I have to mention that there is still one final level to conquer before the chart truly points to a new All-Time High.
The resistance is not a single price but a range, the resistance zone. This range sits between 114 and 123. Once NVDA closes decisively above 123, say a full daily or weekly candle with really high volume, we have a test of the All-Time High as resistance confirmed.
Depending on how the market reacts once the ATH is challenged we can determine what will happen next.
For example, if the ATH produces a very strong rejection with really high bearish volume, we know that a major correction will follow and even a lower low becomes possible. But, on the other hand, if challenging the ATH results in a mild market reaction, a normal drop/retrace then immediately we know that additional growth will happen after a higher low.
The truth is, Nvidia will move up, fight a little bit at the ATH and then continue growing. Just as we predicted the bottom we can predict what will happen next based on the chart. The chart is saying up long-term and this means a new All-Time High in 2025. Rest easy.
Thank you for reading.
Your support is appreciated.
Namaste.
This is a major development because the resistance level that was broken today, 114, rejected growth a total of 4 times. NVDA moving above this level confirms the continuation of the bullish move coming from a technical analysis perspective.
Just to be unbiased, I have to mention that there is still one final level to conquer before the chart truly points to a new All-Time High.
The resistance is not a single price but a range, the resistance zone. This range sits between 114 and 123. Once NVDA closes decisively above 123, say a full daily or weekly candle with really high volume, we have a test of the All-Time High as resistance confirmed.
Depending on how the market reacts once the ATH is challenged we can determine what will happen next.
For example, if the ATH produces a very strong rejection with really high bearish volume, we know that a major correction will follow and even a lower low becomes possible. But, on the other hand, if challenging the ATH results in a mild market reaction, a normal drop/retrace then immediately we know that additional growth will happen after a higher low.
The truth is, Nvidia will move up, fight a little bit at the ATH and then continue growing. Just as we predicted the bottom we can predict what will happen next based on the chart. The chart is saying up long-term and this means a new All-Time High in 2025. Rest easy.
Thank you for reading.
Your support is appreciated.
Namaste.
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Bài đăng liên quan
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
