NVDA created a perfect double top pattern, breaking the baseline forcefully and offering up to two perfect pullbacks that only confirmed that the $127.7 level had ceased to be support and had become a critical resistance.A few weeks ago, we already warned that considering shorts on NVDA was feasible due to the breakdown of a previous pattern (see previous ideas). Now that the double top has broken down, the most common target would be to see prices around the $103 area, which, given NVDA's strong fundamentals and monopoly in AI, seems unlikely.
But with Trump, you never know! If market uncertainty persists, the most extreme level would be around the $90 area, where a significant amount of money should appear to buy NVDA at a substantial discount.
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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.