NVDA's chart is not bullish: after failing a retest of its old all-time high and rejection below 236.5, upward gaps met selling; EMAs trend up but the pattern isn't bullish. Price is heading down toward a low around 1110, and the overall trend has begun to decline.

Nvidia (NVDA) stock again, here is my chart for Nvidia stock. There is a low level expected sometime in January.

Hmm, there was an expected drop, then there was a slight rise, and now the price is falling again. The next low level is expected around November 9th. Um, that's the general picture here, okay?

Um, the picture is n't really that good on Nvidia because look what just happened, right?

He came back to test the previous peaks and then stopped, didn't he ? There was no one there. Basically, every small upward gap was met with selling. Every small upward gap was being hit hard and very fast here, but that was an important day there and here .

Look what Nvidia's stock did. Try going back and looking behind the all-time high, the old all-time high, and failing below the 236.5 level, right ?

So that was an important day. Once again, the optimists lost their edge on Nvidia stock that day, because look what happened the next day. How did they feel? worst. An upward gap was met with selling.

Yes, the exponential moving averages (EMAs) are trending upwards, but this is not a bullish pattern. You had a lot of layers of pessimism accumulating in the semiconductor industry and in Nvidia itself.

Yes, as you know, everything was still positive here, but not bullish. It's not upward.

Okay, now for Nvidia, we have a low level around 1110. And we're heading downwards . After that attempt to break through the all-time high and the market's rejection of it, we're back in the trading range, right ?

So, yes, the overall trend has now begun to decline.