NVDA: What's the problem with it? A Multi Time Frame Analysis.
Hello traders and investors! Let’s see what’s the problem with NVDA, and do a Multi-Time Frame Analysis (MTFA) on it.
In the 1h chart, it seems it just filled its previous gap, and it is heading to the next support at $ 246. However, despite the lack of bullish reaction, the trend is still bullish (in the short term), as NVDA is still doing higher highs/lows. It could be a stronger trend, yes, as we are below the 21 ema now, but it is still bullish.
If NVDA loses the $ 246, the bull trend will get weaker, and it might retest the $ 239 in sequence. The recent bearish reaction shouldn’t be surprising, as in the mid-term, NVDA just hit a resistance level:
We hit the purple trend line in the daily chart, and although NVDA is really trying to reverse, it seems to me it must break this line for good in order to say it is a bull trend in the mid-term again.
Ok, so, we have a bull trend in the short-term, bear trend in the mid-term. How about the long-term?
We have another resistance here, which is the 21 ema. If it closes above the ema this Friday, great, I’ll consider it a good sign. The trend is clearly bullish in the weekly chart, and maybe this last drop will be part of a huge Flag pattern in the long-run.
For now, we must keep an eye on the next support levels, and wait for a good reaction there. If this happens, the mid-term trend might reverse. I’ll keep you guys updated on this.
If you liked my analysis, remember to follow me to keep in touch with my daily studies, and support this idea if it helped.
Have a good weekend,
Nathan.
In the 1h chart, it seems it just filled its previous gap, and it is heading to the next support at $ 246. However, despite the lack of bullish reaction, the trend is still bullish (in the short term), as NVDA is still doing higher highs/lows. It could be a stronger trend, yes, as we are below the 21 ema now, but it is still bullish.
If NVDA loses the $ 246, the bull trend will get weaker, and it might retest the $ 239 in sequence. The recent bearish reaction shouldn’t be surprising, as in the mid-term, NVDA just hit a resistance level:
We hit the purple trend line in the daily chart, and although NVDA is really trying to reverse, it seems to me it must break this line for good in order to say it is a bull trend in the mid-term again.
Ok, so, we have a bull trend in the short-term, bear trend in the mid-term. How about the long-term?
We have another resistance here, which is the 21 ema. If it closes above the ema this Friday, great, I’ll consider it a good sign. The trend is clearly bullish in the weekly chart, and maybe this last drop will be part of a huge Flag pattern in the long-run.
For now, we must keep an eye on the next support levels, and wait for a good reaction there. If this happens, the mid-term trend might reverse. I’ll keep you guys updated on this.
If you liked my analysis, remember to follow me to keep in touch with my daily studies, and support this idea if it helped.
Have a good weekend,
Nathan.
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