NVDA this morning 10/16/24
Looking at NVDA this morning.
Current Price Action: NVDA is hovering around $132.40. After a recent drop, the stock is attempting a recovery, showing some consolidation in this area.
Volume Profile: The visible volume profile shows a key support level around $128.75. There’s a significant accumulation at the $132-134 range, indicating potential resistance overhead.
Resistance Levels: Immediate resistance can be seen at $134.02, with a stronger level around $138.47.
Support Levels: Strong support is around $128.75, with another potential bounce level near $126.69 if NVDA continues to drop.
MACD: The MACD shows a recent crossover, suggesting a bullish reversal attempt, but it may still be in a weak uptrend given the overall downward movement before it.
EMA: NVDA is currently near the EMAs, and crossing above them could trigger more buying interest, especially if volume picks up.
End-of-Day Outlook:
If NVDA can hold above the $132.35 area and break through the $134 resistance, we could see a test of the $138 level. However, if the current resistance proves too strong and it drops back below $132, there’s a likelihood of testing the $128.75 support.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research or consult with a professional before making any trading decisions.
Current Price Action: NVDA is hovering around $132.40. After a recent drop, the stock is attempting a recovery, showing some consolidation in this area.
Volume Profile: The visible volume profile shows a key support level around $128.75. There’s a significant accumulation at the $132-134 range, indicating potential resistance overhead.
Resistance Levels: Immediate resistance can be seen at $134.02, with a stronger level around $138.47.
Support Levels: Strong support is around $128.75, with another potential bounce level near $126.69 if NVDA continues to drop.
MACD: The MACD shows a recent crossover, suggesting a bullish reversal attempt, but it may still be in a weak uptrend given the overall downward movement before it.
EMA: NVDA is currently near the EMAs, and crossing above them could trigger more buying interest, especially if volume picks up.
End-of-Day Outlook:
If NVDA can hold above the $132.35 area and break through the $134 resistance, we could see a test of the $138 level. However, if the current resistance proves too strong and it drops back below $132, there’s a likelihood of testing the $128.75 support.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research or consult with a professional before making any trading decisions.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.