We believe that NVIDIA’s recent movements, with the top at $140 and the bottom at $90, signify a multi-month consolidation period. This consolidation is expected to persist until around Feb 2025 and will likely form a contracting triangle pattern, labeled A, B, C, D, and E. Following the completion of this consolidation phase, NVIDIA is anticipated to break out to new highs, targeting the $180 range.
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