NVIDEA - Poised for a Breakout: Which Way Will It Go?
NVIDIA ( 
NVDA ) is currently consolidating between lowering highs and rising lows, forming a symmetrical triangle. There are two possible support lines: one starting from October 2022 and another from February 2024. I’m leaning toward the 2022 support, as it lines up with the 150-day moving average (MA150), making it more reliable.
The stock is trapped between two key horizontal levels:
$140 resistance (all-time high).
$102 support, a major level to watch for any breakdown.
A breakout above $140 or a break below $102 could lead to significant moves.
NVIDIA is leading the AI wave, and demand for their chips is incredibly strong, with big partnerships with companies like Microsoft and Amazon continue to drive the momentum.
This, combined with solid technicals, makes me lean toward a bullish breakout.
What are your thoughts? Do you think NVIDIA will break higher or lower as it nears the triangle’s end?
NVDA ) is currently consolidating between lowering highs and rising lows, forming a symmetrical triangle. There are two possible support lines: one starting from October 2022 and another from February 2024. I’m leaning toward the 2022 support, as it lines up with the 150-day moving average (MA150), making it more reliable.The stock is trapped between two key horizontal levels:
$140 resistance (all-time high).
$102 support, a major level to watch for any breakdown.
A breakout above $140 or a break below $102 could lead to significant moves.
NVIDIA is leading the AI wave, and demand for their chips is incredibly strong, with big partnerships with companies like Microsoft and Amazon continue to drive the momentum.
This, combined with solid technicals, makes me lean toward a bullish breakout.
What are your thoughts? Do you think NVIDIA will break higher or lower as it nears the triangle’s end?
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