NVIDIA Corporation Starts A New Bearish Phase, Today!

We can spot a perfect bullish impulse starting the month of October 2022.
NVIDIA Corporation's valuation grew by an astonishing 590%.

After the fifth wave we get a correction.
We have a rounded top and a very strong bearish divergence with the RSI.

Today's session is full red pushing price action below EMA10.
As the action moves below EMA10 the bias turns from bullish to bearish.

On the chart you can see an ABC wave pattern which is the coming correction.
How the waves develop and how far it goes can vary wildly, so please keep in mind that this wave is just for illustration purpose.

👉 NVDA can move to test ~350 as support just as it can go lower and hit ~244.

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Commentaire:

This situation here with the candles is quite fishy; bearish.
This might be the "last hurray" before the correction.