SAMT Blog
NVIDIA with high earnings expectations and a bearish Butterfly pattern pointing down
22. August 2023, by James Touati
Technical Analysis, Wolfe Waves, harmonic patterns
This Tuesday, August 22 in the year of our Lord 2023, Mr Wolfe Waves brings you an analysis of NVIDIA.
As I mentioned on August 12, 2023 (link below), NVIDIA could join its GAP around 464.64. This is what happened last night.
original post:
https://www.samt-org.ch/resources/blog/NVIDIA-will-reach-its-GAPs-Trend-line-broken-downwards
The question we all ask ourselves is whether NVIDIA's results will be good or bad tomorrow evening, Wednesday the 23rd after the close.
Now, let's look at the NVIDIA graph in 4H.
- The gap towards 464.64 has been filled.
- We also see that the price breaks above the Bollinger Bands.
- Also a bearish Butterfly pattern has been detected, and the Wolfe wave is still valid.
- The MACD is up, as well as the RSI.
We will know tomorrow night if macroeconomics are stronger than technical analysis, but you already know my point of view...
NB: Don't forget that with harmonics, the proportions are often a bit different than in real trading. Don't be too academic. ;) Be attentive and careful! Good trades.
For more details, you can contact me here by email, or on the following networks:
LinkedIn: http://linkedin.com/in/james-d-touati-941a8ba6
Tradingview: https://fr.tradingview.com/u/james-samt/
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