NVIDIA update - 23 October 2024

Macro Updates Oct 23, 2024

You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology.

NVIDIA - nearing a 40 day cycle peak zone.

We last looked at NVDA on 9 October at 132.89 close, looking for a rally expansion towards 150 with the 40 and 20 week cycle upswings acting as a tailwind. Price is now 7 points away from 150 and the analysis suggests that a 40 day cycle peak is close at hand.

Christopher Grafton CMT

Chris has been involved in the markets for 20 years. He is the author of Mastering Hurst Cycle Analysis and is an experienced working technician. Chris holds the CMT qualification.