NVIDIA CORP technical analysis

NVIDIA Corp. is bouncing between a channel for a year now. The share price just reached an all time high ($246.85). NVDA may go higher and bump onto the resistance of the channel. It would be very bullish if the stock would break through the resistance. If it would bounce off the resistance, NVDA may find some support on the support of the channel. The 100 EMA is catching up and may fall together with the support if the stock would correct. The RSI is 78 which is a little overbought. The MACD is still bullish but it may cross over soon. If NVDA would bounce of the resistance, the red rectangle could be a sell area. The correction may lead to the 0.5 fibonacci retracement level where the support and the 100 EMA could meet. Then the green rectangle would be a good buying opportunity.

I just want to give my humble opinion on some products by doing technical analysis. There may be some minor and/or major flaws. Nobody is perfect and I'm willing to learn from my mistakes through your opinions. Thank you.

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Disclaimer: This is not financial advise.