Nvidia Stock Price Reverses Lower From Important Fibonacci Level
(Click on image to enlarge)
Nvidia’s stock price surged last week, reaching an important Fibonacci extension level (361.8).
The rally has been unprecedented. Nvidia (NVDA) is a large cap tech stock and its price has doubled in just 9 weeks!
But something happened last week. Nvidia’s formed a bearish reversal candle on the weekly chart. See chart above.
This is a rare pattern that often times will show up on aggressive/parabolic moves… and often times signals a trading top.
I’m wondering if this will end up being important? Stay tuned!!
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