Solid News

Nvidia Corp., Technical Analysis

11/29/2022 10:39 AM

Shares of Nvidia Corp., the US video and GPU giant, are in a corrective uptrend around 158.00.

On the daily chart, the price has left the global downward channel with dynamic boundaries of 90.00–151.00, broke the resistance line and reached the initial 23.6% Fibonacci correction around 164.20.

On the four-hour chart, the attempt to consolidate above was unsuccessful, but it is likely that a new test of 164.20 will follow soon, and the target level of the 38.2% Fibonacci retracement at 199.00 will be reached.

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

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