Nvidia Stock Shows Bearish Pattern That Signals Potential Price Reversal After Hitting All-Time Highs
Portfolio Pulse from Piero Cingari
NVIDIA Corp. (NASDAQ:NVDA) stock declined 1.74% on Wednesday after reaching all-time highs of $440 per share on Tuesday. The decline is attributed to a bearish RSI divergence pattern, signaling a potential loss of upward momentum and price reversal.
June 21, 2023 | 8:29 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
NVIDIA's stock price may face a potential reversal due to a bearish RSI divergence pattern, indicating a loss of upward momentum.
The bearish RSI divergence pattern suggests that NVIDIA's strong bullish momentum may have peaked. This could lead investors to consider taking profits, resulting in a potential price reversal. The stock is currently trading at extremely elevated levels, which further supports the possibility of a reversal.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100