NVDA Technical Analysis on October 9, 2024
Price Action:
Current Price: $132.99, with a recent high at $133.48.
Trend: NVDA is in an ascending channel, continuing a strong bullish trend with higher highs and higher lows.
Key Levels:
Support:
Immediate support at $130.61, which is the mid-level of the recent upward channel.
Lower support at $127.72, near the previous breakout point.
Resistance:
Immediate resistance at $133.48 (the current high).
Next key resistance is the psychological $135 level.
Indicators:
MACD: The MACD shows a slightly overbought condition, though it remains in bullish territory, suggesting momentum could continue upward.
Trading Plan:
For Bulls: Consider entering on pullbacks around $130.61 for a move toward $133.48 and possibly beyond to $135. Ensure stops are placed below the lower support at $127.72.
For Bears: A breakdown below $130.61 could signal a short-term retracement toward the $127.72 level, offering a potential short opportunity.
Outlook for Tomorrow:
Bullish Bias: NVDA's strong momentum could lead to a break of $133.48, with potential upside to $135. However, a failure to hold above $130.61 may signal a minor pullback.
Disclaimer:
This analysis is based on technical data and is not financial advice. Please conduct your own research and consider risk management when trading.
Current Price: $132.99, with a recent high at $133.48.
Trend: NVDA is in an ascending channel, continuing a strong bullish trend with higher highs and higher lows.
Key Levels:
Support:
Immediate support at $130.61, which is the mid-level of the recent upward channel.
Lower support at $127.72, near the previous breakout point.
Resistance:
Immediate resistance at $133.48 (the current high).
Next key resistance is the psychological $135 level.
Indicators:
MACD: The MACD shows a slightly overbought condition, though it remains in bullish territory, suggesting momentum could continue upward.
Trading Plan:
For Bulls: Consider entering on pullbacks around $130.61 for a move toward $133.48 and possibly beyond to $135. Ensure stops are placed below the lower support at $127.72.
For Bears: A breakdown below $130.61 could signal a short-term retracement toward the $127.72 level, offering a potential short opportunity.
Outlook for Tomorrow:
Bullish Bias: NVDA's strong momentum could lead to a break of $133.48, with potential upside to $135. However, a failure to hold above $130.61 may signal a minor pullback.
Disclaimer:
This analysis is based on technical data and is not financial advice. Please conduct your own research and consider risk management when trading.
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.