Solid News

Nvidia Corp., Technical Analysis

9/2/2022 11:33 AM

The shares of Nvidia Corp., the American giant in the field of video graphics processors, are moving in a corrective downtrend around 140.00.

On the daily chart of the asset, a global downwards channel is developing with dynamic boundaries of 100.00–200.00, and the price is decreasing towards the support line, which coincides with the initial Fibonacci extension trend of around 101.70.

The four-hour chart of the asset shows that the quotes have consolidated below the previous low of the year, around 139.00, and there are practically no other obstacles in their path.

Technical indicators maintain a stable sell signal: fast EMAs on the Alligator indicator are below the signal line and expand the range of fluctuations, while the AO oscillator histogram forms bars in the sell zone.

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