NVIDIALong
Breakout strong bullish swing
NVDA has broken out of my blue trend line with a strong bullish outlook, signaling a great opportunity for a long swing trade. The price has been consolidating within a tight range for some time, but today's breakout confirms the momentum shift. The stock is in a strong uptrend, trading will above the 200MA, which acts as a long term support level. It recently bounced off the 20MA with a strong bullish candle, further affirming the continuation of the trend. While I have a set price target for this swing, I may consider holding the position longer if the trend remains intact. The strength of NVDA price action and overall market conditions will guide my decision.
Why I like this setup:
Strong bullish breakout from consolidation.
Clear uptrend with support from both the 200MA and 20MA
Bullish momentum confirmed by todays price action.
My Risk:
Ive placed my stop loss just below the breakout level to manage downside risk. I'll adjust my stop to breakeven or trail it closer to secure profits as NVDA moves higher.
Let me know your thoughts on this setup. Do you think NVDA will continue its bullish run?
Not financial advice, Trade at your own risk I just started posting my ideas :D
Why I like this setup:
Strong bullish breakout from consolidation.
Clear uptrend with support from both the 200MA and 20MA
Bullish momentum confirmed by todays price action.
My Risk:
Ive placed my stop loss just below the breakout level to manage downside risk. I'll adjust my stop to breakeven or trail it closer to secure profits as NVDA moves higher.
Let me know your thoughts on this setup. Do you think NVDA will continue its bullish run?
Not financial advice, Trade at your own risk I just started posting my ideas :D
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