Nvidia's Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Nvidia's stock price experienced a decline, reaching the key support level of 89.900, before recovering and closing above 97.000. This move indicates some level of price stability after a sharp dip. The Relative Strength Index (RSI) currently suggests that Nvidia's stock has been oversold, meaning that it may be due for a bounce-back. This could signal the start of a strong bullish reversal.



If this reversal materializes, Nvidia's stock may test the significant resistance levels at 114.600 and 129.050, which could act as crucial barriers to further upward movement. However, if the stock fails to break through these resistance levels and continues to struggle, the bullish reversal might not be sustained, and the descending channel pattern could be confirmed, suggesting that the overall downtrend could persist.
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