NVDA at a Pivotal Level! Reversal Incoming or More Downside?

Technical Analysis (TA) & Price Action
NVIDIA (NVDA) has been in a clear downtrend, forming a falling wedge on the 1-hour timeframe, which is often a precursor to a potential reversal. The stock is approaching a critical support level near $124-$126, where buyers may step in.

Key observations:
* Trend Structure: NVDA remains in a falling wedge pattern, typically a bullish reversal formation if it breaks out.

* Support & Resistance:
* Major Resistance: $134 (previous breakdown level).
* Key Support: $124 (PUT support zone).
* Breakout Target: $138 - $143 if NVDA reclaims momentum.

* MACD Indicator: Slightly bearish but showing early signs of a potential crossover, indicating momentum shift.
* Stoch RSI: Approaching overbought conditions, meaning a relief rally could be on the horizon.

Options Flow & GEX Analysis

The GEX (Gamma Exposure) indicator signals significant PUT positioning at $120-$124, making it a crucial level for a bounce. A breakdown below this zone could trigger a gamma-driven sell-off, while a breakout above $134 could lead to a short squeeze.
* IVR (Implied Volatility Rank): 63.3, with IVx avg at 85.8%, indicating high volatility.
* Call Side Bias: 22.1% of options flow, showing some bullish positioning despite the decline.

* Key GEX Levels:
* PUT Wall & Key Support: $124 → Holding above could trigger a relief bounce.
* CALL Resistance & Upside Target: $138 → Breakout above this would confirm a reversal.

Trade Plan & Suggestions
📌 Bullish Reversal Setup (Preferred Play)
* Entry: Above $130 with confirmation.
* Target 1: $134
* Target 2: $138-$143 (Extended breakout target).
* Stop-loss: Below $124

📌 Bearish Breakdown Setup (Hedge Play)
* Entry: Below $124 with strong selling pressure.
* Target: $120 → $115 (Next PUT Wall).
* Stop-loss: Above $128

Final Thoughts
NVDA is at a make-or-break zone, with $124 as the key support level to watch. If it holds, we could see a sharp reversal toward $134+. However, breaking below could bring another leg down to $120-$115. Given the high volatility, traders should be prepared for sharp price movements.

📢 Risk Management: Use tight stop-losses and wait for confirmation before entering a trade.

🔹 Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research and manage risk accordingly before trading.