Technical Analysis:
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A series of higher highs and higher lows in Weekly Timeframe:
NVIDIA has found support at $132, which previously acted as a resistance area during June, July, and August 24. If the stock continues to rise from this level, we could see another higher high (yellow cap) around $165. Alternatively, a deeper correction toward $104 could still be on the table if the support fails.
Fundamental Analysis:
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1) If NVIDIA struggles, it would suggest AI's momentum is waning—which is clearly not the case. This downtrend might simply reflect profit-taking by large traders.
2) The "Santa Rally" is in play, and NVIDIA appears to be on the "nice" list, signaling potential upward momentum.
3) NVIDIA's Blackwell product line is expected to contribute significantly to profits in the next quarterly earnings, potentially providing a substantial boost to the stock.
I bought NVIDIA stock at $145 and plan to hold sell at $160.
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A series of higher highs and higher lows in Weekly Timeframe:
NVIDIA has found support at $132, which previously acted as a resistance area during June, July, and August 24. If the stock continues to rise from this level, we could see another higher high (yellow cap) around $165. Alternatively, a deeper correction toward $104 could still be on the table if the support fails.
Fundamental Analysis:
==================
1) If NVIDIA struggles, it would suggest AI's momentum is waning—which is clearly not the case. This downtrend might simply reflect profit-taking by large traders.
2) The "Santa Rally" is in play, and NVIDIA appears to be on the "nice" list, signaling potential upward momentum.
3) NVIDIA's Blackwell product line is expected to contribute significantly to profits in the next quarterly earnings, potentially providing a substantial boost to the stock.
I bought NVIDIA stock at $145 and plan to hold sell at $160.
Trade active
I am still in the trade. CES 2025 is an important event, expect some announcements and hopefully a boost to the stock price.
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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.