Candlestick Theory Nvidia experienced a notable decline of 3.62% in the most recent session, marking the second consecutive day of losses and resulting in a cumulative drop of 4.28% over the last two days, with the stock closing at $214.75. This bearish momentum follows a period of consolidation between $215 and $235, where the price action has exhibited a series of lower highs, suggesting weakening buyer conviction. The recent candlesticks show increasing selling pressure, particularly on days with high trading volumes, which often indicates institutional distribution. Key support levels appear to be forming around the $210 to $215 range, as previous dips in late May and early June found buyers in this zone. Conversely, resistance is firmly established near the $225 to $230 level, where multiple rejection candles have occurred, indicating that sellers are actively defending this ceiling. The current price action suggests that if the $210 support fails, the stock may test lower psychological levels, while a recovery above $220 would be required to invalidate the short-term bearish structure.
Moving Average Theory
