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Nvidia Corp., Technical Analysis

1/13/2023 10:08 AM

Shares of Nvidia Corp., an American giant in the development of video graphics processors, are moving in a corrective trend at 165.00.

On the daily chart, the price failed to return to the previously passed downwards channel with dynamic boundaries of 100.00–140.00 and, after testing the resistance line back, reversed upwards.

On the four-hour chart of the asset, it can be seen that consolidation above the local resistance around 151.00 confirmed the formation of an upward wave, the main target of which is 200.00, which coincides with the resistance level of the local Expanding formation pattern.

Technical indicators reversed and are ready to give a buy signal: fast EMAs on the Alligator indicator have almost crossed the signal line upwards, and the AO oscillator histogram forms rising bars, approaching the transition level as close as possible.

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