nVidia has become an extremely popular stock amongst market participants, and has a large potential to revolutionize the world through their AI technologies and computer processing chip sales, amongst other benefits.
However, going into this uncertain time pre-election, there is potential for volatility to be present in markets before moving to higher levels.
At the moment, we are still trending upwards on the longer term, with a large base / liquidity zone at my buy targets between $65-$75.
There are several levels of confluence that I have for this trade:
1) Liquidity zone located at the pivot low of $75. I would look for a swing failure pattern here.
2) Gap zone from $66/$68 would be nice to fill and bounce from.
3) Trend based fib extension from the low at $91 and then swing high at $131 at the 0.618 would bring us exactly to the point of liquidity marked at $75.
4) I would like to see Bullish CVD and divergences at these prices as another confirmation to take a swing long trade.
My analysis is based strictly off the technical's on the charts, and there wont be much updates here unless the alert is triggered at $75.
Only time will tell!
However, going into this uncertain time pre-election, there is potential for volatility to be present in markets before moving to higher levels.
At the moment, we are still trending upwards on the longer term, with a large base / liquidity zone at my buy targets between $65-$75.
There are several levels of confluence that I have for this trade:
1) Liquidity zone located at the pivot low of $75. I would look for a swing failure pattern here.
2) Gap zone from $66/$68 would be nice to fill and bounce from.
3) Trend based fib extension from the low at $91 and then swing high at $131 at the 0.618 would bring us exactly to the point of liquidity marked at $75.
4) I would like to see Bullish CVD and divergences at these prices as another confirmation to take a swing long trade.
My analysis is based strictly off the technical's on the charts, and there wont be much updates here unless the alert is triggered at $75.
Only time will tell!
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