NVDA Stock Forecast – Nvidia Chart for Technical Analysis (Will the POP Hold?)

Nvidia is a tech company that specializes in producing graphics processing units (GPUs) used in computer gaming and artificial intelligence. Recently, the company released its earnings report, and the market has responded positively, with Nvidia stock prices up by 13.5%. However, despite the good news, the market is not holding up, and some news appears to have caused a sell-off.

Looking at the advanced decline line and VIX, we can see that weakness has emerged, with a sell-off occurring right from the start. However, Nvidia has been holding up well, with the stock gapping up strong and continuing to perform impressively.

Let’s take a closer look at the weekly chart to understand why Nvidia has been so successful. There are four trend lines that we need to consider: the downtrend line, the uptrend line, the secondary uptrend line, and the resistance area.

The downtrend line shows that Nvidia was previously in a downward trend, which caused many investors to lose money. The uptrend line shows that Nvidia has since broken this trend and is now on the rise. However, the secondary uptrend line is not sustainable, as it is too steep and has a high angle. Therefore, we know that Nvidia will eventually fall, as it cannot continue to rise so quickly.

The third line to consider is the resistance area, which has been a significant challenge for Nvidia over the last few weeks. We can see from the chart that Nvidia has hit this resistance area several times, resulting in hard sell-offs. The stock is currently challenging this resistance area once again, and if it can hold on until Friday, it may just be able to hang on.

Finally, we have the support line, which used to be a resistance area. Nvidia broke through this line with ease and has continued to move up. However, we believe that Nvidia will fall eventually, and it may come down to at least the 50 mark.

Overall, Nvidia is performing well, with its stock prices up significantly after the earnings report. However, the market is not holding up, and some news has caused a sell-off. We believe that Nvidia will eventually fall, but it may not give back all the gains it has made recently. Nvidia is an impressive company, and it will be interesting to see how it performs in the coming weeks and months.