The Nvidia shows a corrective pullback that now seems to be attempting a rebound.
Key Levels:
Resistance:
$122.40 - A critical resistance level; Nvidia could see heavy selling here if it continues the upward movement.
$127.66 - A higher resistance, less likely to be tested unless the stock clears the previous key level at $122.40.
Support:
$117 - First line of support; previously tested.
$114.76 - Key structural support; breakdown here could open room for a deeper correction.
Price Action & Setup:
Nvidia has formed a descending wedge pattern, often indicative of a potential breakout.
Recent price action suggests Nvidia is testing resistance near $120.60, and a failure to break higher could result in a pullback to test lower levels around $117 or even $114.
Entry/Exit:
Entry: Potential short opportunity if the price fails to break $122.40. Alternatively, a break above $122.40 with momentum could offer a long setup, aiming for $127.60.
Exit: For shorts, target levels around $117 and $114. Long positions could take profit around $122-$127.
Key Levels:
Resistance:
$122.40 - A critical resistance level; Nvidia could see heavy selling here if it continues the upward movement.
$127.66 - A higher resistance, less likely to be tested unless the stock clears the previous key level at $122.40.
Support:
$117 - First line of support; previously tested.
$114.76 - Key structural support; breakdown here could open room for a deeper correction.
Price Action & Setup:
Nvidia has formed a descending wedge pattern, often indicative of a potential breakout.
Recent price action suggests Nvidia is testing resistance near $120.60, and a failure to break higher could result in a pullback to test lower levels around $117 or even $114.
Entry/Exit:
Entry: Potential short opportunity if the price fails to break $122.40. Alternatively, a break above $122.40 with momentum could offer a long setup, aiming for $127.60.
Exit: For shorts, target levels around $117 and $114. Long positions could take profit around $122-$127.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.