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08.11.202218:45 Forex Analysis & Reviews: Update on our NVDA stock price analysis

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Blue lines- Fibonacci retracements

Black lines- RSI bullish divergence

On October 10th we posted our analysis on NVDA stock when price was trading around $120. We then noted that although trend remained bearish, there were increased chances of a bounce higher. The following days after we posted our analysis, NVDA stock price made a new lower low around $108.15 and started an upward bounce. So far price has retraced nearly 50% of the decline from $192.68. Price has started making higher highs and higher lows. The momentum in the near term is bullish. Next resistance level is at $150 and next at $159.90. Support is found at $131.80.

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