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Nvidia Corp. Technical Analysis

3/23/2023 10:11 AM

The shares of Nvidia Corp., an American giant in the development of video graphics processors, are moving within a corrective trend at 265.00.

On the daily chart, the price has completed the global Head and shoulders reversal pattern, reaching the target resistance at 260.00.

On a four-hour chart, it is clear that even after the execution of the main target for the formation, the upside potential will not be exhausted: the asset is close to the high of the previous year on March 29 around 290.00, and the market has the opportunity to repeat this record exactly one year later, and the market maker of this asset may use it. To do it, quotes need to consolidate above the current local high of 276.00, after which, there will be no doubts about growth.

Technical indicators keep a stable buy signal: fast EMAs on the Alligator indicator are above the signal line and expand the oscillation range, while the AO histogram forms upward bars, rising in the buying zone.

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