Nvidia Major Bearish Signal

We have a major bearish signal after a new all-time high for the Nvidia Corporation (NVDA) stock.

We now know that NVDA is strongly related to Bitcoin and the Cryptocurrency market thanks to the graphic cards and chips they develop.

Any out of the ordinary action here can be used as a signal to either support or negate action in these related markets.

We see Bitcoin with bearish potential based on the fact that growth stalled completely and we have more than three months of sideways action accompanied by lower highs (bearish).

Now we have this development on the Nvidia stock, which supports a strong bearish move next week —a massive sell-off.

➖ NVDA produced a major bearish session, 20th of June.
(It hit a new ATH just to close full-red.)

➖ The next day we have a falling window with very strong bearish volume.
(These are powerful bearish signals).

➖ Junk-base also looks pretty bad with multiple days closing red.

As always, things can change on Monday but the chart is the chart, and the chart is saying, "Warning, major crash ahead!"

It wouldn't be surprising to see a drop here; prepare accordingly.

These bearish signal can become invalid if this stock moves up and close above 131 daily/weekly. If trading remains below this level, there is high probability of a major down-move.

Namaste.

評論:

The open today indicates much lower prices possible in the coming days and weeks. Major correction ahead.