NVDA quotes continue to move within the growth and bullish channel. Moving averages indicate a short-term uptrend for Nvidia. Prices are bouncing up from the area between the signal lines, which indicates pressure from buyers of securities. At the time of publication of the forecast, the share price is 819.49. As part of the forecast, we should expect an attempt to develop a correction and a test of the support level near the area of 760.05. Further, the rebound and the continuation of the rise in the value of securities. The potential target of such a movement is the area above the level of 920 in July 2021.
Nvidia Forecast and Analysis for July 2021
An additional signal in favor of raising NVDA quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the growth option for the price of Nvidia shares will be a fall and a breakdown of the level of 715.00. This will indicate a breakdown of the support area and continued fall into the area at the level of 640.05. Expect an acceleration in the rise of shares with the breakdown of the resistance area and closing above the level of 840.05.
Nvidia Forecast and Analysis for July 2021 assumes the development of a correction and a test of the support area near the level of 760.05. Where can we expect a rebound and an attempt to continue the rise of the pair to the area above the level of 920. A test of the trend line on the relative strength index (RSI) will be in favor of the growth of the currency pair. Cancellation of the option to raise NVDA will be a fall and a breakdown of the level of 715.00. This will indicate a breakdown of support and a continued fall in value to the area below the level of 640.05.
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