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Nvidia Stock at Key Fibonacci Extension Level Ahead of Report
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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).
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.
Read more on investing.comAbout this in other media
Nvidia stock surges as revenue forecast tops estimates, AI demand continues investing.com /10 months ago
Nvidia stock rises on growth forecast, drives market surge on renewed AI interest livemint.com /10 months ago
Nvidia stock surges after results, lifts other AI shares economictimes.indiatimes.com /10 months ago
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