Is Nvidia turning bearish?
Nvidia made the last high at 193.47, inside the ideal distribution area and attractor (chart https://thefinancialforecast.com/will-nvidia-continue-dropping-after-the-earnings-release/ ) to bounce down until reaching the lower key level at 134.86. The downward bounce from the attractor and the first test of the key level are increasing the chances of new lows as a consequence of a corrective sequence of higher degree, visible at the weekly range. The company has strong financials but the drop in the EBIT (Quarterly) and the Trade War is the perfect background for a correction. Below 179.95 Nvidia will continue moving to the next bearish attractor placed at 108 – 90 as first instance, to complete a 3 waves iteration.Back to Blog