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09.12.202218:31 Forex Analysis & Reviews: Technical analysis on NVDA stock price for December 9th, 2022.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 09.12.2022 analysis

Blue lines- Fibonacci retracements

Black lines- RSI bearish divergence

NVDA stock price remains in a bullish trend as it continues making higher highs and higher lows. NVDA stock price made an important low in October and is rising since then. However in the near term despite the higher highs in price, the RSI has provided us with bearish divergence signals. Price is currently making a new higher high at $174.09 but the RSI is not following. This bearish divergence is an important warning traders should not ignore. The up trend is weakening and there are increased chances of a reversal and a pull back. This is not a good time buying NVDA stocks. Key support is found at the latest higher low at $157.64. A break below this level will confirm the trend change.

Alexandros Yfantis
Analytical expert of InstaForex
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