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Nvidia Corp., Technical Analysis

11/18/2022 10:40 AM

Shares of Nvidia Corp., an American giant in the development of video graphics processors, are moving in a corrective uptrend around 156.00.

On the daily chart, the price has left the global downwards channel with dynamic boundaries 80.00–136.00, break the resistance line and reached the initial correction level of 23.6% Fibonacci around 163.00.

The four-hour chart of the asset shows that on the first attempt, the quotes failed to consolidate above 163.00, and they retreated lower. The upward momentum is quite strong, and soon one more test with the target at the basic correction of 38.2% Fibonacci 195.00 may follow.

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

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