What's Up with Nvidia?
@TBITrades:
Hi everyone! I’m here to give another update on everybody’s favourite semiconductor stock - Nvidia! To make my charts simpler and less cluttered, I have re-charted NVDA from scratch! It is very different from what I had envisioned previously. Here’s a look at Nvidia’s daily chart: Based on the daily chart, we can see that the stock is trading in a large broadening wedge pattern. Based on what I can see from the bearish divergences (red lines), it suggests that a big leg down could be coming on NVDA. We once again have higher highs based on price action but higher lows based on the 14-day RSI. With yesterday’s closing candle showing a curl of the RSI, I think we have created a third lower high on the RSI while making a third higher high in the stock price. This is indicative of a leg down