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Nvidia Stock at Key Fibonacci Extension Level Ahead of Report

Published 02/21/2024, 03:57 PM

NVIDIA (NASDAQ:NVDA) has captured the technology investor community by storm.

The AI provider's stock price has surged in recent weeks and this has lead the broader stock market higher. 

But, as you can see on today’s weekly chart, the high flying stock hit its 261% Fibonacci extension level last week, where it created a bearish doji star pattern at (1).Nvidia Weekly Chart

Could this be a sign of what's to come? Recent weakness has me concerned that any further selling might trigger a broader stock market correction. 

Latest comments

That just shows TA is important but has its limits and cant predict the  future
Until you blow out revenue and earnings.
Doji star is a sighn of trend reversal
it would concern me more if there wasn't a broader correction
please, explain what a doji star is
ask on google
Like a plus sign. Tiny body. Wicks on top and bottom.
Open = close ( more or less) thought to be sign of indecision.
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