$NVDA to pull back to the slow-moving average (purple highlighted area), using it as support, then potentially move higher as shown by the bullish Ichimoku cloud. There is clear disequilibrium between the fast and slow-moving averages (base and conversion lines) and price action has already started moving towards the base line at roughly $569.63 and my analysis...
NVDA seems to be prime for a move up from previous support area and 200 MA to GP and high volume price range.
We see a long-term channel (purple lines). It started in 2016. In October 2018, it was broken. Then the "Diamond" model was formed. And the growth began until March 2020. Then the price of April 2020 pushed off from the support of the "diamond" and took a course sharply up to rejoin the old purple trend. Today we are near the trend resistance, the peak growth is...
Bull Case: Cup & Handle Target $585-$605
Mixed signals bullish chart patterns and bearish chart patterns together! A bulflag and a rising wedge. A double bottom is required along the rising wedge if it is to provide bullish continuation. If not a breakdown will occur post breakout of the bullflag!
NVDA has formed a perfect double bottom on the weekly and daily TF. Semiconductors are performing well after truce between US-China trade wars. Enter at current price for a nice 1:3 risk-reward ratio, or wait further retracement towards major support of 120 for a much bigger risk-reward. TAYOR
Nvidia reports tomorrow, if doesn't beats estimates, it surely gonna finish de head patron, making a buy entrance (if trade-war alow it) at $144...#PATIENCE #royglvn
Wave count is over. Extended 5th = 1.618x Waves 1-3. Nvidia has been bouncing in the $265 range for quite some time and cannot break above. We have multiple indicator divergences.16% - 30% downside from last close. Short this down to $170 - $210 then enter long. Good Luck