NVDA NVIDIA Daily Chart; H&S (Head and Shoulders) Pattern

Here is another NVIDIA chart to supplement the prior chart. A textbook H&S (head and shoulders) pattern, so far.

The 132 is the neckline with the head at 150 to keep the math easy. Price came down to the neck on Friday, testing support, dipping its toe into that negativity, and then deciding to park at 134 to think things over on the weekend. Well, the weekend is over and it is time to sh*t or get off the pot. NVDA must bounce, or die, from 132, and it determines the fate of the artificial intelligence (AI) chip superstar going forward.

The difference between the head and neck, 150 and 132, is 18 points. NVIDIA is down more than -10% off the top in correction territory. Thus, mathematicians say thus a lot, that is why we are never invited to parties, the downside target is 114 (132-18) if the 132 neckline gives way.

There are three gap fills needed down below (orange circles). If Emperor Jensen waves another new AI chip in the air this week, that is actually a Cheerio's box spray-painted black, the stock may want to bounce off the neckline and fill the gap above at 140-ish before it then rolls over and dies.

If you are long NVDA stock, and you see 132 fail, you will pucker your buttocks. If you are a pretty darling, and the head and shoulders spanks you, do not worry. You can Put Your Head On My Shoulder. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added Monday Evening, 12/16/24: NVDA drops to 130 and decides to sit at 132.00 overnight. Of course it does. NVDA sits on the 132 neckline deciding to bounce or die. NVIDIA sings O Death hoping to avoid the icy hand for another day, trying to jump higher off the 132 neckline knowing that if it fails, and loses 132, it will clutch its chest and collapse to 114.