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Nvidia Corp., Technical Analysis

12/28/2022 10:08 AM

Shares of Nvidia Corp., an American giant in the development of video graphics processors, are moving within a corrective trend at 141.00.

On the daily chart, the price is within the global Expanding formation pattern with dynamic boundaries of 90.00–188.00, and after reaching the resistance line reversed downwards.

On the 4-hour chart, the new downward wave has already received all the necessary confirmation to reach the year’s low of 108.00 soon. Although the current wave is one of the "guaranteed" ones in the pattern, an upward option is not excluded, which will become possible when the reverse level of 151.00 is broken.

Technical indicators reversed and gave a sell signal: fast EMAs on the Alligator indicator crossed the signal line downwards, and the AO oscillator histogram is forming downward bars in the sell zone.

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