Overview:
NVDA is showing strong bullish momentum on the 2-hour chart, trading at $132.34 as of the latest candlestick. After a recovery from the March low of $88, the price is now testing a key resistance at $132.47. A breakout above this level could signal a continuation toward higher targets, supported by positive market sentiment and technical indicators.Key Levels to Watch:
Resistance: $135.47
Next Target: $139.50 (psychological level and prior resistance)
Support: $116.24 (recent low, key support)
Trade Setup:
Direction: Buy on breakout
Entry: $133.50 (confirmation above resistance)
Profit Target: $139.50
Stop Loss: $125.00 (below recent pullback and 50-period MA)
Risk-Reward Ratio: 2:1 (Risk: $2.50, Reward: $5.00)
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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.