NVDA Short term pull back | Week #38

13 בספט׳ 2020Currently NVDA has pulled back from upper Bollinger Band in week #36. As of 09/11/20 RSI is 74.77 which is very elevated (or in over bought territory for charts that use reading above 70 as over bough). MACD is in long term uptrend with no crossover so this short term pull back is just investors / traders booking gains. Stock might find support at $425 since that was the ceiling which was reached multiple time in July and was broken in 1st week of Aug. If that doesn't act as support then next stop is $395 which is 161.8% fib retrenchment level which implies a further 18.82% downside from Friday (09/11/2020) close.
(This analysis is just my point of view. Trading involves risk. Do your own research before trading)