Nvidia still in a sequence channel

Indeed, Nvidia is respecting the sequence of the bearish channel and bounced at point #5, moving downward.

Now, even though Nvidia is dropping, it remains quite strong. Could we see a rebound at the following levels?

113.50 to 115.25 (marked in the green zone)

If Nvidia bounces at these levels I mentioned, we will very likely see a channel breakout in the coming weeks.

But! If the price surpasses those two levels I mentioned, we could very likely see Nvidia testing the blue GAP zone for the third time or approaching point #6 (channel support).

Let’s see what happens this week.

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