TradingKey – NVIDIA (NASDAQ: NVDA) is currently trading at $204.65, currently executing a measured correction within its overarching uptrend, having just tested the 0.618 Fibonacci support level at $211.20, with the next key downside barrier sitting at the 1.0 retracement level near $194.83. Shares are holding steady above the long-term EMA200 trend at $187.86, while simultaneously pressing against the EMA50 at $206.76. At the same time, the RSI is positioned at 45.34 in the neutral zone and, crucially, there is no divergence evident to suggest further weakness on the downside. Consequently, this move appears far more likely to be profit-taking from a phenomenal quarter than the early stages of a sustained corrective phase.

Following the…