NVDA: Monthly Shooting Star = Top Signal
$NVIDIA(NVDA)$ : Monthly Shooting Star = Top Signal
August printed a warning sign that has preceded double-digit % declines in previous cases from top to bottom. The bearish Stochastic crossover adds another layer of caution to the price structure.
Previous declines have not occurred in a straight line, so any bounce should be assessed carefully. So far, the 5-month average has provided support. When it breaks, either in September or October, the probable destination would be the upper edge of the volume shelf at around $145.
Unless... This Time It's Different?
A monthly chart of NVIDIA stock prices with candlestick patterns and technical indicators. Red and green candlesticks show price movements, with red circles highlighting specific points of interest. A 5-month moving average line is visible, along with volume bars and a Stochastic indicator below. Text overlays include "NVIDIA," "5 MA," percentage changes like "-22.7%" and "-43.4%," and arrows pointing to key price levels. A watermark from SmartReversals is present.
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