1. Price Action Overview:
Chart Overview: The image shows a 1-hour chart for NVDA, which indicates short-term price action.
Trend Lines: There are ascending channel lines that the price seems to be respecting, suggesting an upward trend.
Key Levels:
Resistance: $130.64
Support:
$128.52
$127.83
$125.83 (Critical support level)
2. Indicators:
Volume Profile: The chart has a visible volume profile on the right, showing areas where significant trading volume occurred. The highest volume node is around the $127.83 - $128.52 region, which suggests strong support.
MACD: The Moving Average Convergence Divergence (MACD) is at the bottom of the chart, showing a potential crossover. This could indicate momentum building up, but it needs confirmation.
3. Price Action Analysis:
Recent Behavior: The price is currently moving upwards within the ascending channel. It is near the middle of the channel, having recently bounced from the lower trend line.
Short-Term Trend: The short-term trend is bullish, as indicated by the upward channel. However, the proximity to resistance at $130.64 may create some selling pressure.
4. Trading Strategy :
Scenario 1: Continued Uptrend
Entry: If the price breaks above $130.64 with strong volume, enter a long position.
Stop-Loss: Set a stop-loss slightly below $128.52 (around $128) to minimize risk.
Target: Consider a target around $133-$135, which would be in line with the upper channel line.
Scenario 2: Pullback
Entry: If the price fails to break $130.64 and shows signs of reversal (e.g., bearish candle pattern), consider shorting.
Stop-Loss: Place a stop-loss just above the $130.64 level.
Target: The first target would be around $127.83. If the price breaks this level, the next target would be near $125.83.
5. Other Strategies Approach:
Options Strategy: Professionals might consider using options to hedge or enhance returns. For example:
Bullish Bias: Buy a call option with a strike price slightly above $130.64 if expecting a breakout.
Bearish Bias: Purchase a put option with a strike price around $128.52 if anticipating a pullback.
Scalping: Given NVDA's high liquidity and volatility, scalping within the channel boundaries might be profitable. Use the 1-minute or 5-minute charts to find quick trades.
6. Conclusion:
Bias: The general trend is bullish, but NVDA is nearing a key resistance level. Tomorrow's action will likely depend on whether NVDA can break through $130.64 or if it faces rejection.
Watchlist: Keep an eye on volume spikes, news, and broader market conditions as they will heavily influence NVDA's price action.
Would you like to explore a specific strategy in more detail or need any other insights? Let me know.
Chart Overview: The image shows a 1-hour chart for NVDA, which indicates short-term price action.
Trend Lines: There are ascending channel lines that the price seems to be respecting, suggesting an upward trend.
Key Levels:
Resistance: $130.64
Support:
$128.52
$127.83
$125.83 (Critical support level)
2. Indicators:
Volume Profile: The chart has a visible volume profile on the right, showing areas where significant trading volume occurred. The highest volume node is around the $127.83 - $128.52 region, which suggests strong support.
MACD: The Moving Average Convergence Divergence (MACD) is at the bottom of the chart, showing a potential crossover. This could indicate momentum building up, but it needs confirmation.
3. Price Action Analysis:
Recent Behavior: The price is currently moving upwards within the ascending channel. It is near the middle of the channel, having recently bounced from the lower trend line.
Short-Term Trend: The short-term trend is bullish, as indicated by the upward channel. However, the proximity to resistance at $130.64 may create some selling pressure.
4. Trading Strategy :
Scenario 1: Continued Uptrend
Entry: If the price breaks above $130.64 with strong volume, enter a long position.
Stop-Loss: Set a stop-loss slightly below $128.52 (around $128) to minimize risk.
Target: Consider a target around $133-$135, which would be in line with the upper channel line.
Scenario 2: Pullback
Entry: If the price fails to break $130.64 and shows signs of reversal (e.g., bearish candle pattern), consider shorting.
Stop-Loss: Place a stop-loss just above the $130.64 level.
Target: The first target would be around $127.83. If the price breaks this level, the next target would be near $125.83.
5. Other Strategies Approach:
Options Strategy: Professionals might consider using options to hedge or enhance returns. For example:
Bullish Bias: Buy a call option with a strike price slightly above $130.64 if expecting a breakout.
Bearish Bias: Purchase a put option with a strike price around $128.52 if anticipating a pullback.
Scalping: Given NVDA's high liquidity and volatility, scalping within the channel boundaries might be profitable. Use the 1-minute or 5-minute charts to find quick trades.
6. Conclusion:
Bias: The general trend is bullish, but NVDA is nearing a key resistance level. Tomorrow's action will likely depend on whether NVDA can break through $130.64 or if it faces rejection.
Watchlist: Keep an eye on volume spikes, news, and broader market conditions as they will heavily influence NVDA's price action.
Would you like to explore a specific strategy in more detail or need any other insights? Let me know.
Nota
The significant drop in the market on August 22, 2024, was driven by a combination of factors:Hawkish Comments from the Federal Reserve: Concerns over future interest rate hikes resurfaced after hawkish comments from Federal Reserve officials, indicating that inflation is still a concern and that rates might stay higher for longer.
Weak Economic Data: Poor economic data, including lower-than-expected manufacturing numbers and rising jobless claims, added to fears of a potential recession.
Global Uncertainty: Ongoing geopolitical tensions and economic concerns in China further exacerbated market fears, leading to a broader sell-off across various sectors.
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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.