I have seen several ideas relating to NVDA on here using TA to suggest that the pattern forming is a falling wedge which once completed will lead to another leg up on the elliot waves (leg 3 to 4).
I agree that this will proabably be a move that it makes in the future however in the near term (30 days or so) I think thru January the head and shoulders pattern i've outlined here makes more sense - NVDA broke the neckline clearly and yesterday retested that neckline at the end of the day on the fed's news only to be rejected once again today to the downside.
In accordance with the falling wedge pattern and a neccessary pullback, this head and shoulders target is equal to the .618 on the fib scale. Additionally, the 50 ema is about to cross over the 200 ema in the near future. MACD is wide open, SQUEEZE oscillator is just barely getting started in the red.
Just my two sense.
I agree that this will proabably be a move that it makes in the future however in the near term (30 days or so) I think thru January the head and shoulders pattern i've outlined here makes more sense - NVDA broke the neckline clearly and yesterday retested that neckline at the end of the day on the fed's news only to be rejected once again today to the downside.
In accordance with the falling wedge pattern and a neccessary pullback, this head and shoulders target is equal to the .618 on the fib scale. Additionally, the 50 ema is about to cross over the 200 ema in the near future. MACD is wide open, SQUEEZE oscillator is just barely getting started in the red.
Just my two sense.