THE AMERICA ONE NEWS
Jun 6, 2025  |  
0
 | Remer,MN
Sponsor:  QWIKET 
Sponsor:  QWIKET 
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge.
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge and Reasoning Support for Fantasy Sports and Betting Enthusiasts.
back  
topic
Flag and Cross
Flag And Cross
22 Jul 2023


NextImg:NVIDIA Falls On Bearish Triple Top Pattern At All-Time High
 NVIDIA Corporation  was falling on Friday after forming a bearish triple top pattern at the new all-time high of $480.88, which has been driven by a boom in artificial intelligence stocks. JAKUB PORZYCKI/GETTY IMAGES 

NVIDIA Corporation (NASDAQ: NVDA) was falling on Friday after forming a bearish triple top pattern at the new all-time high of $480.88, which has been driven by a boom in artificial intelligence stocks.

A double top pattern is a reversal indicator that shows a stock has reached a key resistance level, retraced lower, back tested the level as resistance and is likely to retrace again. It is possible the stock or fund may retest the level as resistance again, creating a triple top or even quadruple top pattern.

The formation is always identified after a security has reached a price and is at the top of an uptrend, whereas a bullish double bottom pattern is always found in a downtrend. A spike in volume confirms the double top pattern was recognized and subsequent increasing volume may indicate the stock will retrace into a downtrend.

The stock market also appears to be attempting to price in a hawkish tone from the Fed and that, paired with big tech earnings season, could cause volatility to increase.

Traders wishing to trade the volatility in the stock market can use MIAX’s SPIKES Volatility products. The products, which are traded on SPIKES Volatility Index (XMIO: SPIKE), track expected volatility in the SPDR S&P 500 ETF Trust 

(NYSE: SPY) over the next 30 days.

Traders wishing to trade the volatility in the stock market can use MIAX’s SPIKES Volatility products. The products, which are traded on SPIKES Volatility Index (XMIO: SPIKE), track expected volatility in the SPDR S&P 500 ETF Trust.  GETTY IMAGES 

The Nvidia Chart: Nvidia formed its triple top pattern on July 14, July 18 and July 19, and on Thursday and Friday, the stock was reacting to the bearish pattern and falling lower. If the stock continues to descend, it may find support at its previous all-time high of $439.90, which was printed on June 20.

Produced in association with Benzinga

Edited by Saba Fatima and Maham Javaid