$NVDA Nvidia missed earnings! Next level of support has a gap.
NVDA has a very interesting chart.Today NVIDIA announces earnings, missed. The price plunged a bit after hours but not as bad imo.
I see a solid accumulation/support near the $157-$161 level.
NVDA previously broke out of a falling wedge on July 15th, however, it didn't back test the break-out zone afterwards, holding the support level this week would set up a textbook INVERSE Head & Shoulder pattern with a first target/resistance near the $190 level. Closing above the $190 neckline would open the door to more possibilities such as filling the gaps above (marked in red) created in APRIL 2022.
Losing the $157 level would break it down to the low $140's setting up a possible double bottom pattern as a best case scenario. Gaming is a billion dollar industry and most of the crypto decline shock is priced in. NVIDIA is poised for continued upside in the coming years as we slowly enter the metaverse.
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