Could Nvidia Be Heading To $520? A Look At The Stock Chart
Portfolio Pulse from Melanie Schaffer
NVIDIA Corporation (NASDAQ: NVDA) stock has been trading mostly sideways between $375 and the new all-time high of $419.38 after better-than-expected Q1 earnings. The stock chart shows a possible bull flag pattern, suggesting a potential spike up towards the $520 level if it breaks up from the upper descending trend line of the flag formation.
June 06, 2023 | 8:02 pm
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NVIDIA's stock chart shows a possible bull flag pattern, suggesting a potential spike up towards the $520 level if it breaks up from the upper descending trend line of the flag formation.
The bull flag pattern is a bullish continuation pattern that signals a potential upward movement in the stock price. NVIDIA's stock has been trading sideways after better-than-expected Q1 earnings, and the chart shows a possible bull flag pattern. If the stock breaks up from the upper descending trend line of the flag formation, it could potentially spike up towards the $520 level, which would be a positive short-term impact on the stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100