NVDA
NVIDIA (NVDA) Stock Price Prediction And Forecast 2023 – 2030
Baarish deep crab pattern is a technical analysis pattern used to predict price reversals in the stock market. The pattern is identified by a series of price movements that form a distinctive shape on a chart, resembling the shape of a crab. The pattern is called "deep" because the price retracement in the pattern extends deeper than a typical crab pattern. In this article, we will examine the potential completion of a Baarish deep crab pattern in the Nvidia
corporation, with the expectation of a reversal at $244.
NVIDIA (NVDA) Nvidia corporation
The Nvidia corporation ( NVDA ) is a well known American multinational technology company that specializes in designing graphics processing units (GPUs) for the gaming data center and professional markets. Nvidia's stock has been on a steady uptrend since the market crash in March 2020 with the stock price rising from $190 to a high of $317 in September 2020. However since then the stock has been trading in a range between $317 and $238 with several attempts to break above or below this range.
In recent weeks, the Nvidia stock has been exhibiting a potential Baarish deep crab pattern, which could signal a trend reversal. The pattern begins with an initial decline in price followed by a significant rally, forming the A and B legs of the pattern. The B leg is typically a retracement of the initial decline with a Fibonacci ratio of 0.618. In the case of Nvidia the ( B ) leg retracement is deeper than usual, with a Fibonacci ratio of 0.886.
( A - B ) ( C )
The pattern then continues with a decline in price, forming the C leg of the pattern. The C leg is typically a retracement of the( A - B )leg with a Fibonacci ratio of 0.382. In the case of Nvidia the C leg retracement is shallower than usual, with a Fibonacci ratio of 0.618.
( B - C ) Potential Reversal Zone ( PRZ ( D )
The pattern's completion is marked by the formation of the D leg, which is a significant decline in price, extending beyond the initial decline in the pattern. The D leg is typically a retracement of the entire pattern, with a Fibonacci ratio of 1.618. In the case of Nvidia, the PRZ (Potential Reversal Zone) of the ( D ) leg is almost complete with the Fibonacci Extension ratio reaching 1.618.
Targets
Based on these technical indicators, we can expect a potential trend reversal in Nvidia's stock price, with a target price of $194 (0.382 Fibonacci ratio off AD) and $161 (0.618 Fibonacci ratio off AD). However it is essential to note that technical analysis is not always accurate, and other factors such as market sentiment, news events, and economic data can also influence the stock's price.
Conclusion
The Baarish deep crab pattern in Nvidia corporation is a potential indication of a trend reversal, with the completion of the PRZ of the D leg almost complete. The Fibonacci ratios of the B and C legs in the pattern suggest that the retracements are deeper and shallower than usual respectively. The target prices of $194 and $161 based on the 0.382 and 0.618 Fibonacci Retracement ratios off AD respectively are potential areas for investors to take profit. However, investors should exercise caution and consider other factors that could impact the stock's price.
Baarish deep crab pattern is a technical analysis pattern used to predict price reversals in the stock market. The pattern is identified by a series of price movements that form a distinctive shape on a chart, resembling the shape of a crab. The pattern is called "deep" because the price retracement in the pattern extends deeper than a typical crab pattern. In this article, we will examine the potential completion of a Baarish deep crab pattern in the Nvidia
corporation, with the expectation of a reversal at $244.
NVIDIA (NVDA) Nvidia corporation
The Nvidia corporation ( NVDA ) is a well known American multinational technology company that specializes in designing graphics processing units (GPUs) for the gaming data center and professional markets. Nvidia's stock has been on a steady uptrend since the market crash in March 2020 with the stock price rising from $190 to a high of $317 in September 2020. However since then the stock has been trading in a range between $317 and $238 with several attempts to break above or below this range.
In recent weeks, the Nvidia stock has been exhibiting a potential Baarish deep crab pattern, which could signal a trend reversal. The pattern begins with an initial decline in price followed by a significant rally, forming the A and B legs of the pattern. The B leg is typically a retracement of the initial decline with a Fibonacci ratio of 0.618. In the case of Nvidia the ( B ) leg retracement is deeper than usual, with a Fibonacci ratio of 0.886.
( A - B ) ( C )
The pattern then continues with a decline in price, forming the C leg of the pattern. The C leg is typically a retracement of the( A - B )leg with a Fibonacci ratio of 0.382. In the case of Nvidia the C leg retracement is shallower than usual, with a Fibonacci ratio of 0.618.
( B - C ) Potential Reversal Zone ( PRZ ( D )
The pattern's completion is marked by the formation of the D leg, which is a significant decline in price, extending beyond the initial decline in the pattern. The D leg is typically a retracement of the entire pattern, with a Fibonacci ratio of 1.618. In the case of Nvidia, the PRZ (Potential Reversal Zone) of the ( D ) leg is almost complete with the Fibonacci Extension ratio reaching 1.618.
Targets
Based on these technical indicators, we can expect a potential trend reversal in Nvidia's stock price, with a target price of $194 (0.382 Fibonacci ratio off AD) and $161 (0.618 Fibonacci ratio off AD). However it is essential to note that technical analysis is not always accurate, and other factors such as market sentiment, news events, and economic data can also influence the stock's price.
Conclusion
The Baarish deep crab pattern in Nvidia corporation is a potential indication of a trend reversal, with the completion of the PRZ of the D leg almost complete. The Fibonacci ratios of the B and C legs in the pattern suggest that the retracements are deeper and shallower than usual respectively. The target prices of $194 and $161 based on the 0.382 and 0.618 Fibonacci Retracement ratios off AD respectively are potential areas for investors to take profit. However, investors should exercise caution and consider other factors that could impact the stock's price.
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