NVIDIA Forecast 2024 NVDA Analysis and Astrology (\"Say what??!\")
Nvidia is showing strong bullish signals, holding above key trend lines and moving averages, but mixed indicators suggest we need to stay alert for potential shifts.
All right, today we're looking at the Nvidia chart, and I've found some interesting things. Let's start with the basic chart. We have this trend line going all the way back to October 2022, and we're still holding that trend line, which is looking good. We're definitely seeing some pretty serious signs of strength. If we take a 50% level from the peak in June down to the low in August, we have been heading up since then. We're already above this 50% level at 115, which is promising. We just closed the previous week at 120, above that 50% level, and that's looking good. The next weekly candle is going up, and we're also above the 21 SMA line (this yellow line here), which is a significant moving average. Historically, when we bounce off of it, we go on a mega Bull Run. As long as we're above it, we are likely to continue heading upwards. Nvidia is so bullish that even if we do go below, it's not for very long. However, we're currently sitting above that level, so we could be due for another run here pretty soon. It's definitely in the cards.
Now, let's look at the monthly chart. We closed the previous month above that moving average and above the 50% level at 120, which is looking good. I'm even going to look at the three-month chart. I like to look at these when in doubt; zooming out often provides clarity. This is an interesting candle here. Looking at the macro three months from April through July, we did experience a dump down to 90, but that got bought up all the way back up to 120, which is above this significant 21 SMA moving average. This tells a good story and is pretty bullish. Although it did go down, it got bought all the way back up, indicating a lot of bullish momentum, which is what we want to see for the bulls.
Now, let's look at something really interesting: the RSI and the stochastic RSI on the macro three-month chart. We are heading up, which is looking good. However, there is a little bit of concern regarding the two-month chart. From July to September, we are potentially getting a stochastic RSI cross, which would be more bearish. But we have to wait until November to see that confirmation. If we look at the monthly chart, we're hanging out up here, potentially seeing a stochastic RSI cross back upwards as well. We're seeing some mixed signals here, and we will have to wait until next month to see how this all pans out. Are we going to have a stochastic RSI cross on the monthly? Is the two-month chart just going to be a fake-out and shoot back upwards? We will have to wait and see.
If we look at the weekly chart, it is looking bullish in the short term. We did get the stochastic RSI cross, but just like we did back in August, we have to ensure this isn't a fake-out that will lead us back down. So, we are waiting on that confirmation. We could even look at the two-week chart, which is still hanging out down there and isn't looking super bullish. However, there are interesting movements here. If the two-month chart stays above that level and the monthly gives us a stochastic RSI cross back up, we could get another run here, which is definitely in the cards.
Another interesting aspect to consider is when we zoom out and look at the three-month chart once again. If we examine the volume down here, we see that the volume has dropped off significantly in the last three months, similar to what it did back in October 2020, the year of the pandemic, when things slowed down for a bit before heading off into a run. Another time was back here when things slowed down, but then they did...
When volume drops, it often signals a buying opportunity; history shows that slowdowns can lead to big runs ahead.
In this analysis, I want to discuss the potential movements of Nvidia stock. If the TW Monon stays above a certain level and we observe a monthly stas cars cross back up, we could see another run, which is definitely in the cards.
When we zoom out and examine the three-month chart, we notice that the volume has dropped off significantly in the last three months, similar to what occurred back in October 2020, during the pandemic when things slowed down before heading into a run. Another instance of this was when the volume slowed down, but then it began to rise again in the following months. Typically, when the volume slows down, especially for this chart, Nvidia is typically a great buy. However, I must clarify that none of this content is financial advice; it is intended for entertainment and educational purposes only. Personally, I am not an investor in Nvidia, but I do wish I had bought back then.
Now, for those who may be new to this channel, I will be looking at Nvidia astrology. On this channel, I also analyze Bitcoin astrology. We take the birth date of Nvidia, January 22, 1999, and explore the themes present in the astrology to potentially gain an edge. My predictions have historically been quite accurate, so you might find this useful. However, it is essential to have an experienced astrologer interpreting this information, as beginners may not fully grasp the nuances.
Recently, Nvidia peaked in mid-June of this year and has since traded sideways. I wondered if there was anything in the astrology that could explain this trend. Indeed, there was a rather negative transit where Pluto was conjuncting the natal chart of Nvidia's Neptune. Typically, Neptune can bring confusion, which the markets do not favor. We experienced a direct hit on June 4th, right before Nvidia peaked and began trading sideways. Interestingly, this transit will hit again at the end of January.
In the meantime, we have a significant gap, allowing for potential upside. This transit will also hit a third and fourth time at the end of next year. In between this bearish transit, we have Uranus sextiling Nvidia's Jupiter, with a direct hit on November 8th. There was another direct hit at the end of June, but it is possible that the Pluto conjunct Neptune overshadowed it. If this transit brings back more bullish momentum, which it certainly could, it looks promising from October heading into November.
We could see a nice pump around then, provided there are no unexpected Black Swan events, as Pluto is in Capricorn at the 29th degree, which is the most intense degree. Additionally, we have Jupiter trining Nvidia's Uranus, which will come into play in January and March, indicating potential for a pump during that time.
The main transit to focus on is Uranus sextiling Nvidia's Jupiter as we head into October and November. We could witness a nice pump, particularly in October leading into November. Signs of strength are already emerging, suggesting that we might be loading up soon for an upward movement. It is also possible for the stock to trade sideways. We could see this pump starting mid-October and continuing into November, particularly after the election on November 8th, when we might experience a strong surge once the election outcomes are settled.
Thank you for tuning in! If you would like to see more videos like this, I will be covering NASDAQ analysis and astrology, as well as insights on SPY and Tesla. Additionally, I will continue to explore Bitcoin astrology and some cryptocurrency altcoins. I appreciate your viewership, and I look forward to seeing you in the next video. Peace!