NVIDIA
keeps on pushing further.
Those who are holding are starting to feel exhuberant.
Those who are not holding must definitely be feeling a good deal of FOMO at this stage.
For both, in this slower timeframe chart, whose trends and patterns tend to override the faster timeframes, the pattern (yet to be completed) in display is a RSI Bearish Divergence.
A bearish divergence in the RSI occurs when the price of an asset forms higher highs while the RSI indicator forms lower highs. It suggests a potential reversal or weakening of the upward trend.
The divergence indicates that the price momentum is slowing down, even though the price itself continues to rise.
This pattern is typically interpreted as a warning sign that the upward trend may be losing strength, potentially leading to a trend reversal or a price correction in the near future.
It can be used as a signal to consider taking profits, tightening stop-loss levels, or looking for potential short-selling opportunities.
Having this said, are you sure you are still comfortable holding or looking for log opportunities here?
Cheers,
Tenacious Tribe - Backtested, Quantified Trading Strategies
Those who are holding are starting to feel exhuberant.
Those who are not holding must definitely be feeling a good deal of FOMO at this stage.
For both, in this slower timeframe chart, whose trends and patterns tend to override the faster timeframes, the pattern (yet to be completed) in display is a RSI Bearish Divergence.
A bearish divergence in the RSI occurs when the price of an asset forms higher highs while the RSI indicator forms lower highs. It suggests a potential reversal or weakening of the upward trend.
The divergence indicates that the price momentum is slowing down, even though the price itself continues to rise.
This pattern is typically interpreted as a warning sign that the upward trend may be losing strength, potentially leading to a trend reversal or a price correction in the near future.
It can be used as a signal to consider taking profits, tightening stop-loss levels, or looking for potential short-selling opportunities.
Having this said, are you sure you are still comfortable holding or looking for log opportunities here?
Cheers,
Tenacious Tribe - Backtested, Quantified Trading Strategies