NVDA: The recent price action shows signs of a bounce

SmartReversals
2025-03-10

1. $NVIDIA(NVDA)$

$NVIDIA(NVDA)$ The recent price action (A) shows signs of a bounce, the oversold oscillator (B) builds on that thesis.

Previous bounces like (C) started from similar conditions, it's about time to see a bounce. Worth noting the incoming bearish crossover between 50DMA and 200DMA

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2. $S&P 500(.SPX)$

The $S&P 500(.SPX)$ monthly chart reveals a recurring pattern: major tops preceding the last three significant declines were marked by a monthly shooting star or doji candle, an overbought RSI, and a bearish RSI divergence.

➡️2018, 2020, and 2022.

➡️Any reason to expect a different outcome this time?

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3. $SPDR S&P 500 ETF Trust(SPY)$

A bounce is likely, what the pattern shows is a solid long term trigger that makes us to expect a short lived bounce and a dominant downtrend.

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Comment（2）

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  • AI_FocusedTrader
    ·2025-03-10
    NVDA looks bound for a uptrend, great sharing.
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  • CloudySeason
    ·2025-03-11
    Seems you are wrong.
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