Hello traders and investors! As crazy as this sounds, but after almost one month, NVDA did exactly what we expected.
It confirmed our theory about the “Gap Reversal Ritual” which we talked about in our last analysis (link below), and now, it filled all its previous gaps, as we thought (I told you, I’ve never seen this structure failing). It only did one more gap after my previous analysis, which is something acceptable and this didn’t ruin the thesis at all – it just reinforced it.
The reversal pattern that triggered the Gap Reversal Ritual was this Inverted Head and Shoulders, which worked as a confirmation. Now, we are close to the previous resistance at $ 225, and we see a Trap Zone, as the 21 ema is going up, squeezing the price against the resistance. If we are going to lose the 21 ema, or break the resistance, we don’t know yet, but we can work with scenarios in the daily chart.
If we break the resistance, NVDA will probably seek the ATH again, as the momentum would be very strong. If we lose the 21 ema in the 1h chart, we'll probably seek the 21 ema in the daily chart.
Now the situation on NVDA is not as easy to read as it was last month, but we can still work with targets.
If you liked this analysis, remember to follow me to keep in touch with my daily studies on stocks and indices.
Have a good day.
It confirmed our theory about the “Gap Reversal Ritual” which we talked about in our last analysis (link below), and now, it filled all its previous gaps, as we thought (I told you, I’ve never seen this structure failing). It only did one more gap after my previous analysis, which is something acceptable and this didn’t ruin the thesis at all – it just reinforced it.
The reversal pattern that triggered the Gap Reversal Ritual was this Inverted Head and Shoulders, which worked as a confirmation. Now, we are close to the previous resistance at $ 225, and we see a Trap Zone, as the 21 ema is going up, squeezing the price against the resistance. If we are going to lose the 21 ema, or break the resistance, we don’t know yet, but we can work with scenarios in the daily chart.
If we break the resistance, NVDA will probably seek the ATH again, as the momentum would be very strong. If we lose the 21 ema in the 1h chart, we'll probably seek the 21 ema in the daily chart.
Now the situation on NVDA is not as easy to read as it was last month, but we can still work with targets.
If you liked this analysis, remember to follow me to keep in touch with my daily studies on stocks and indices.
Have a good day.
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