Nvidia -> Slowing Down And Now?

11 thg 7, 2023

Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Nvidia💪

Looking at the monthly timeframe you can see that after Nvidia retested previous support and the 0.786 fibonacci retracement at the $110 level, there was a solid rally towards the upside.

Also on the weekly timeframe you can see that we had a juicy inverted head and shoulders reversal pattern and I pointed out all the reasons why I do expect the upcoming pump of roughly 120% towards the upside.

Looking at the daily timeframe now you can see that Nvidia is a little bit overextended is also slowing down with momentum so there might be the possibility that we will see a short term correction after Nvidia actually breaks the current uptrend line.

Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈

Thank you for watching and I will see you tomorrow!

My previous analysis of this asset: