Solid News

Nvidia Corp., Technical Analysis

8/23/2022 11:30 AM

The shares of Nvidia Corp., the American giant in the video and graphics processors field, are rising, trading around 170.00.

On the daily chart of the asset, a global downward channel is developing with dynamic boundaries of 130.00–190.00. At the moment, the price is trying to change the trend and start moving towards the resistance line at 195.00, but the trading instrument has already failed to consolidate above the initial correction of 23.6% Fibonacci around 193.10 three times.

On the four-hour chart, it is seen that also to 23.6%, a serious obstacle for quotes is the resistance line of the global channel around 195.00.

Technical indicators keep a buy signal: fast EMAs on the Alligator indicator are above the signal line, despite the narrowing of the fluctuation range, and the AO oscillator histogram is forming new bars in the buy zone.

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