The Long Investor
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$NVDA
🕑 Added 2025-03-19 12:55:05 +0000 UTCFirst test of the yellow trend line was met with resistance at $121 but we can see that the pull back retested the 0.618 Fib which was a support level in late Jan, the price is moving positively in the PM now as the market awaits patiently for the Fed decision after lunch.
A positive reaction and I believe the price can break above the trend line and move up to the 200 Day MA at $130 this week.
A negative reaction and we could see a rejection at this trend line next and this will put pressure on the market if a lower low is made here into the red line range.
For now, bulls still have a chance to push this higher and help the market, $NVDA is key for me.
Comments
Dante
Or not to worry because SMAs are lagging indicators?
Dante
According to data from MarketWatch, since Nvidia went public, this pattern has occurred 12 times, and in 75% of cases (9 out of 12), the stock price continued to decline afterward, with an average decline of 41%.
Dante
Do you expect this possible death cross to drop the price?
