NVDA is showing a structure that closely resembles a bear flag pattern. Following a nearly vertical decline from the 214 top down to the 197 zone, price is now trading sideways in a narrow range around 196.75–198 — the downtrend could potentially continue.
What's notable is that the trading range within this consolidation zone is quite narrow and even, with no signs of a strong breakout to the upside, suggesting this is likely just a temporary pause before sellers regain control.
If price breaks below the consolidation zone around 196.75 as expected, the next decline could unfold with a range similar to the previous flagpole, bringing price down to the 190 zone or lower.
Conversely, if price breaks above resistance, the bear flag pattern would likely not have formed.
This is just my personal perspective based on technical analysis, not investment advice. Always wait for confirmation before entering a trade and manage your risk carefully.
What's notable is that the trading range within this consolidation zone is quite narrow and even, with no signs of a strong breakout to the upside, suggesting this is likely just a temporary pause before sellers regain control.
If price breaks below the consolidation zone around 196.75 as expected, the next decline could unfold with a range similar to the previous flagpole, bringing price down to the 190 zone or lower.
Conversely, if price breaks above resistance, the bear flag pattern would likely not have formed.
This is just my personal perspective based on technical analysis, not investment advice. Always wait for confirmation before entering a trade and manage your risk carefully.
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