NVDA for Tomorrow Trading (11/10/2024)
NVDA is trading around $134.88 as of the latest price action on the 1-hour timeframe. Let’s break down a technical analysis (TA) for tomorrow’s trading:
Key Levels:
Resistance:
The nearest resistance is around $135.00, as indicated by the current price struggling to break through that level.
Beyond $135, there could be resistance near the $138.94 to $140 range.
Support:
Immediate support is seen at $132.65, where price previously bounced.
A stronger support level is at $130.83, which aligns with the broader upward channel and previous price reactions.
Volume:
The volume shows a slight tapering off as price approaches the $135 resistance, indicating that buyers may be hesitant, and we might see consolidation or a pullback unless volume increases.
Indicators:
MACD shows some mixed signals. There was a recent crossover that might indicate short-term downward pressure, but it's hovering around neutral levels.
Trendline:
The white trendline shows an upward channel, suggesting NVDA is in a short-term uptrend. The price is moving towards the upper bound of the trendline, and a breakout could take it higher.
Potential Scenarios:
Bullish Scenario:
If NVDA breaks the $135 level with higher volume, it could push towards $138.94 and $140 in a strong upward momentum.
Bearish Scenario:
If it fails to break $135, expect a potential pullback to $132.65 or even $130.83 support.
For tomorrow's session, watch the $135 level closely, as a break or rejection here will likely determine the direction. Keep an eye on volume and momentum for confirmation.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research or consult with a licensed financial advisor before making any investment decisions.
Key Levels:
Resistance:
The nearest resistance is around $135.00, as indicated by the current price struggling to break through that level.
Beyond $135, there could be resistance near the $138.94 to $140 range.
Support:
Immediate support is seen at $132.65, where price previously bounced.
A stronger support level is at $130.83, which aligns with the broader upward channel and previous price reactions.
Volume:
The volume shows a slight tapering off as price approaches the $135 resistance, indicating that buyers may be hesitant, and we might see consolidation or a pullback unless volume increases.
Indicators:
MACD shows some mixed signals. There was a recent crossover that might indicate short-term downward pressure, but it's hovering around neutral levels.
Trendline:
The white trendline shows an upward channel, suggesting NVDA is in a short-term uptrend. The price is moving towards the upper bound of the trendline, and a breakout could take it higher.
Potential Scenarios:
Bullish Scenario:
If NVDA breaks the $135 level with higher volume, it could push towards $138.94 and $140 in a strong upward momentum.
Bearish Scenario:
If it fails to break $135, expect a potential pullback to $132.65 or even $130.83 support.
For tomorrow's session, watch the $135 level closely, as a break or rejection here will likely determine the direction. Keep an eye on volume and momentum for confirmation.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always conduct your own research or consult with a licensed financial advisor before making any investment decisions.
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.