NDVA Technical Analysis for Tomorrow (10/14/2024)
Key Levels:
Support Levels:
$134.00: This is a key support area, as multiple price reactions are visible around this level. If NVDA breaks below, the next major support appears to be around $133.67 and $130.83.
Resistance Levels:
$135.00: There is significant resistance around the $135.00 level, where price has struggled to break and hold.
$135.78 (Daily High): This is the next resistance level, marking the upper bounds of recent price movement.
Indicators:
MACD: The MACD histogram appears to be weakening, with bearish momentum developing as the MACD line crosses below the signal line. This could suggest short-term bearishness unless momentum shifts.
Volume: Declining volume during the most recent price action could suggest weaker bullish activity, making a break above resistance less likely without strong catalysts.
Price Action & Trend:
NVDA has been in a consolidation phase within a defined range between $134.00 and $135.78, with a slight bearish bias developing. A failure to break higher could see NVDA retesting the $134.00 support level.
Bearish Scenario: A break below $134.00 could trigger further downside pressure, with potential targets at $133.67 and $130.83.
Bullish Scenario: If NVDA breaks above $135.78, there could be upward momentum toward the next psychological resistance around $137.00.
Plan for Tomorrow:
Entry for Shorts: Below $134.00, with a target towards $133.67 and lower if momentum confirms.
Entry for Longs: Above $135.78, looking for a breakout towards $137.00 if momentum strengthens.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions. I am not responsible for any losses incurred from trading based on this analysis.
Support Levels:
$134.00: This is a key support area, as multiple price reactions are visible around this level. If NVDA breaks below, the next major support appears to be around $133.67 and $130.83.
Resistance Levels:
$135.00: There is significant resistance around the $135.00 level, where price has struggled to break and hold.
$135.78 (Daily High): This is the next resistance level, marking the upper bounds of recent price movement.
Indicators:
MACD: The MACD histogram appears to be weakening, with bearish momentum developing as the MACD line crosses below the signal line. This could suggest short-term bearishness unless momentum shifts.
Volume: Declining volume during the most recent price action could suggest weaker bullish activity, making a break above resistance less likely without strong catalysts.
Price Action & Trend:
NVDA has been in a consolidation phase within a defined range between $134.00 and $135.78, with a slight bearish bias developing. A failure to break higher could see NVDA retesting the $134.00 support level.
Bearish Scenario: A break below $134.00 could trigger further downside pressure, with potential targets at $133.67 and $130.83.
Bullish Scenario: If NVDA breaks above $135.78, there could be upward momentum toward the next psychological resistance around $137.00.
Plan for Tomorrow:
Entry for Shorts: Below $134.00, with a target towards $133.67 and lower if momentum confirms.
Entry for Longs: Above $135.78, looking for a breakout towards $137.00 if momentum strengthens.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions. I am not responsible for any losses incurred from trading based on this analysis.
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.