NVIDIA Corporation | Strong Bullish Bias, Looking Like Crypto

9 dic 2022

I remember NVIDIA from when I was a young kid... NVIDIA, Intel, AMD as they made the chips and graphic cards for all of our playing/gaming... Those days.

See how things converge, now NVIDIA is intertwined with Cryptocurrencies and once again this is our playground, with Cryptocurrencies we work and play.

NVIDIA Corporation (NVDA) Weekly Chart Analysis

There is a very strong bullish bias fully confirmed on this chart.

The classic signals go as follow:
- Trading above EMA50, EMA10 and MA200.
- Very strong RSI on a high timeframe.
- Multiple consecutive weeks of bullish action/green candle close.

Back in March 2020 NVDA produced a V shaped recovery and bounced right off the MA200 line. This lead to a strong bull-run.

Now, in October 2022 NVDA produced a V shaped recovery bouncing right off the MA200 line. Closing above 174.16 opens the door for additional growth.

What's more:
- We have a perfect 5 wave abcde correction preceding the current bullish action.
- The low also ended exactly at a -9 on the TD Sequential.
- The low/support also matches perfectly the 0.786 Fib. retracement level relative to the bullish wave from March 2020 to November 2021.

All these signals are telling us that a cycle is complete.
That support is strong.

That NVIDIA is ready for sustained growth.

Namaste.