Nvidia stock continue to move as part of the correction and the formation of the “Triangle” pattern. Moving averages indicate a short-term bullish trend for Nvidia. Prices are testing the area between the signal lines again, which indicates pressure from buyers of securities. At the time of publication of the forecast, the share price is 519.32. As part of the forecast, we should expect an attempt to develop a correction and test the support level near the 500.05 area. Further, a rebound and continued growth in the value of securities. A potential target of such a movement is the area above the level of 645.00.
Nvidia Stock Forecast and Analysis February 2, 2021
An additional signal in favor of the growth of Nvidia 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 “Triangle” pattern. Cancellation of the growth option for the price of Nvidia shares will be a fall and a breakdown of the level of 435.00. This will indicate a breakdown of the support area and continued fall into the area at the level of 315.00. Expect to accelerate the growth of shares is with the breakdown of the resistance area and closing above the level of 585.00, which will indicate a breakdown of the upper border of the “Triangle” model.
Nvidia Stock Forecast and Analysis February 2, 2021 assumes the development of a correction and a test of the support area near the level of 500.05. Where can we expect a rebound and an attempt to continue the growth of the pair to the area above the level of 645.00. A test of the trend line on the relative strength index (RSI) will be in favor of raising the currency pair. Cancellation of the growth option for NVDA will be a fall and a breakdown of the level of 435.00. This will indicate a breakdown of support and a continued fall in value to the area below the level of 315.00.
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