Nvidia - uptrend broken ?
Just a simple chart with a few channels.
In January 2024 Nvidia transitioned from one rising channel into a even steeper rising channel with increased volatility.
Looks like price has been working on a new falling channel since November.
These large swings we experienced in January marked the upper line of this channel and now price has left the rising channel entirely.
There were a couple of retests of the green channel in the last few days but they have all failed.
So I am currently not considering long positions until the price gets back into the green channel or creates a new rising trend.
In January 2024 Nvidia transitioned from one rising channel into a even steeper rising channel with increased volatility.
Looks like price has been working on a new falling channel since November.
These large swings we experienced in January marked the upper line of this channel and now price has left the rising channel entirely.
There were a couple of retests of the green channel in the last few days but they have all failed.
So I am currently not considering long positions until the price gets back into the green channel or creates a new rising trend.
Note
lower trendline of the channel reached (confirmed) and now bouncing
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