NVDA quotes continue to move within the framework of growth and have left the limits of the downward channel. The moving averages point to a short-term bearish trend for Nvidia. Prices are again testing the area between the signal lines, which indicates pressure from sellers of securities. At the time of publication of the forecast, the share price is 246.27. As part of the forecast, we should expect an attempt to develop a correction and test the support level near the area of 225.05. Further, a rebound and continued rise in the value of securities. The potential target of such a movement is the area above the level of 305.05 in July 2021.
Nvidia Stock Forecast for February 2022
An additional signal in favor of the rise in 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 bearish channel. Cancellation of the growth option for Nvidia stock quotes will be a fall and a breakdown of the level of 190.05. This will indicate a breakdown of the support area and a continuation of the fall to the area at the level of 145.05. It is worth expecting an acceleration of the rise in shares with a breakdown of the resistance area and closing above the level of 265.55, which will indicate a breakdown of the upper limit of the descending channel.
Nvidia Stock Forecast for February 2022 suggests the development of a correction and a test of the support area near the level of 225.05. Where should we expect a rebound and an attempt to continue the rise of the pair to the area above the level of 305.05. In favor of the growth of the currency pair, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the NVDA rise option will be a fall and a breakdown of the level of 190.05. This will indicate a breakdown of support and a continuation of the fall in value to the area below the level of 145.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
