$NVDA Nvidia TECH Chart has not shown any signs of reversal

2022年7月2日

NVDA Nvidia Tech Company has a similar chart to MU and AMD - MU earnings revealed negative sentiment sending both AMD & NVDA downward on relation of fear that the chip market is slowing growth.

Nvidia has not shown any technical signs of reversal on the lower timeframes yet.

Above I've marked important levels on the weekly timeframe.

With the slowing growth of ETH and other crypto currencies, tech stocks like Nvidia and Micron are directly related and effected by the mega drop in value as demand for graphic processors and mining decreases.

It's pretty obvious that NVDA is a top tier company in graphic processors and this decline is mostly due to the decline in our economy. As we progress into the digital age NVIDIA has high probability to bounce back to new heights (of course this could take 12-18 months unless they expand rapidly into different avenues of technology).

I will update if I catch any technical chart indications of possible reversal.