Technical Analysis of NVIDIA Corporation
Given the current technical setup and recent bullish signals, a speculative price target for NVDA in the short term is $138, with a potential extension to $150 if bullish momentum persists. Conversely, if the price fails to sustain above $110, a retest of the $100 level could be on the horizon.
The latest candlestick formed is a bullish engulfing pattern, suggesting potential continuation of the upward momentum. However, the previous resistance around $130 will be a critical level to watch for any breakout.
Long Position
Entry: Above $130 (confirmation of breakout)
Target: $138, $150
Stop Loss: $120
Short Position
Entry: Below $110 (confirmation of breakdown)
Target: $100, $96
Stop Loss: $115
The latest candlestick formed is a bullish engulfing pattern, suggesting potential continuation of the upward momentum. However, the previous resistance around $130 will be a critical level to watch for any breakout.
Long Position
Entry: Above $130 (confirmation of breakout)
Target: $138, $150
Stop Loss: $120
Short Position
Entry: Below $110 (confirmation of breakdown)
Target: $100, $96
Stop Loss: $115
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