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Nvda forecast financial3/4/2023 ![]() ![]() ![]() While NVDA’s multiple has fallen over 50 turns from its bubble high in 2021 (from 88x to 27x), it is still relatively in-line with its pre-covid valuation. Nvidia has resistance above at $119.46 and $125.86 and support below at $108.50 and at the psychologically important $100 mark. Obviously much has changed since the 2008 financial crisis, however it is interesting to note that at the depths of the ‘08 crash, NVDA’s EV/EBITDA multiple fell all the way to ![]() Gaps on charts fill about 90% of the time, which indicates Nvidia will eventually trade up to fill the empty trading range, although it could be a long period of time before that happens. There’s a gap that exists on Nivida’s chart between $145.47 and $149.59.The second most likely scenario in that case is that Nvidia will print an inside bar pattern on Friday to consolidate Thursday’s move higher. If Nvidia closes the trading day with a significant upper wick, lower prices may come on Friday, which could suggest that the next lower high within the downtrend has occurred.If that happens, bullish traders will want to see Nvidia regain the eight-day exponential moving average (EMA) and trade up toward the 21-day EMA. If Nvidia closes the trading day near its high-of-day price, the stock will print a bullish engulfing candlestick, which could indicate higher prices will come again on Friday.On Thursday, Nvidia was spiking higher but not enough to negate the downtrend with the formation of a higher high. 16, with the most recent lower low formed at the $112.43 on Tuesday and the most recent confirmed lower high printed on Oct. The Nvidia Chart: Nvidia has been trading in a downtrend since Aug. ![]()
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