This is the third and final version of my NVDA projection for the rest of the year.
In this version I am using a fib channel in log scale. This changes the shape of the price movement and thus the 161.8 fib line location.
In this case NVDA could run as high as $400, which overshoots analyst price targets.
That would be in true bubble fashion to do something like that.
Then, in June, if rates are raised again or CPI comes in hot, the chart would likely top there and decline through about august.
The upside target on this chart is about $400, with a short target for around august or later in the year at about 245.
All three charts have the same topping TIME region, so it should be pretty obvious which version is right when we get there.
If earnings are bad, chart version 1 could play out.
If we are closer to 340 in early june than 400, version two is more likely.
If we are closer to 400 by that time, this version is likely the best fit.
In this version I am using a fib channel in log scale. This changes the shape of the price movement and thus the 161.8 fib line location.
In this case NVDA could run as high as $400, which overshoots analyst price targets.
That would be in true bubble fashion to do something like that.
Then, in June, if rates are raised again or CPI comes in hot, the chart would likely top there and decline through about august.
The upside target on this chart is about $400, with a short target for around august or later in the year at about 245.
All three charts have the same topping TIME region, so it should be pretty obvious which version is right when we get there.
If earnings are bad, chart version 1 could play out.
If we are closer to 340 in early june than 400, version two is more likely.
If we are closer to 400 by that time, this version is likely the best fit.