NVIDIA Contraction Continues- NVDA Breakout Pending
NVDA remains in a massive consolidation pattern just below the record highs.
Initial resistance eyed at 119.68 backed by a more significant technical confluence at 126.02/46 (61.8% extension of the August rally / August high-day close). Look for a larger reaction there IF reached with a close above needed to fuel the next leg towards 130.78 and the 100% extension at 141.52.
Key support remains unchanged at the 61.8% retracement of the April rally / August low-day close at 100.45/49. A break below this threshold would be needed to suggest a more significant high was registered in June and shift the focus back towards a test of the 200DMA (currently ~90).
Battle lines drawn . . .
Michael Boutros
MBForex
Initial resistance eyed at 119.68 backed by a more significant technical confluence at 126.02/46 (61.8% extension of the August rally / August high-day close). Look for a larger reaction there IF reached with a close above needed to fuel the next leg towards 130.78 and the 100% extension at 141.52.
Key support remains unchanged at the 61.8% retracement of the April rally / August low-day close at 100.45/49. A break below this threshold would be needed to suggest a more significant high was registered in June and shift the focus back towards a test of the 200DMA (currently ~90).
Battle lines drawn . . .
Michael Boutros
MBForex
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.