NVDA
Along with the rest of the market NVDA looks extremely bearish. Weekly RSI about to break support line again and daily RSI rolling over again. I think price will continue down until it hits the price support line drawn from COVID or it breaks that and hits $70. I think $100 is more likely for a good bounce, but only time will tell. With everything being as bearish as it is, I do not see NVDA holding up considering the restrictions imposed on semiconductor stocks. A weekly close again below the golden pocket and then under the AVWAP would be further confirmation of a longer drop. Targets laid out. If all else fails, that is why we have stop losses.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.