NVDA | The Road Map to $700+
By:TradingView
Nvidia is gearing up for an explosive move for the horizon but in exchange for a 40% dive.
Price has been consolidating for over 200 days while we sit at these highs. This suggest we're in a distribution phase looking to breakdown for the mid term but to only send prices higher.
This sheds light on other assets like BTC as we could see some type of blowoff top/supper cycle.
I'm looking at targets around $700 for the long term
When we calculate the Fibonacci levels from Correction 2 - 4 price always seems to top out around 78%. Since this is a repeating fractal we can expect a similar road map that'll take us to new highs.
Swing Trade
A snapshot of current price action. Buyers are dried up here transferring control to the bears that will eventually breakout to the downside just like the last local fractal ($150 - $90).
The stochastic indicator is also flashing sell signals giving us the confirmation we need.
Price has been consolidating for over 200 days while we sit at these highs. This suggest we're in a distribution phase looking to breakdown for the mid term but to only send prices higher.
This sheds light on other assets like BTC as we could see some type of blowoff top/supper cycle.
I'm looking at targets around $700 for the long term
When we calculate the Fibonacci levels from Correction 2 - 4 price always seems to top out around 78%. Since this is a repeating fractal we can expect a similar road map that'll take us to new highs.
Swing Trade
A snapshot of current price action. Buyers are dried up here transferring control to the bears that will eventually breakout to the downside just like the last local fractal ($150 - $90).
The stochastic indicator is also flashing sell signals giving us the confirmation we need.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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