Nvidia Printing New Low, Potential Leading Diagonal Pattern
NVIDIA is printing a new low for the month, with a possible five-wave leading diagonal pattern from the highs, indicating continued weakness.
NVDA
NVIDIA (NVDA) has set a new monthly low, with technicians observing a potential five-wave leading diagonal structure from the recent highs. This pattern is characterized by overlapping waves four and two, a feature unique to leading diagonals, suggesting the downtrend may still have further to run.
The observation implies bearish momentum remains intact, with no clear reversal signal yet.
Source: FXStreet Forex News