Stock analysis coming this week from various sources saying "Time to Pull The Trigger on NVDA" .. Is it ?
Let's take a quick look ..
- NVDA has recently formed the famous VCP (Volatility Contraction Pattern) - a good sign for a possible breakout soon
- but the VCP is forming below the 50SMA (blue) and 100SMA(gray) lines
- also there's a "supply pocket" (white rectangle) forming a resistance area at $115
- the good sign is, yesterday (on hype from GOOG and MSFT earnings, NVDA finally broke towards the 50SMA and looks like trying to get above) - first time since wk4 Feb
So when is the ideal entry? what do i need to see ?
=====================================
- Price needs to get above the 50SMA (blue Line) - Which will cause the MACD main line to get into positive zone
- 20SMA (purple line) gets above 50SMA (blue line)
- Ideally price breaks above the 2 pivot levels marked on the chart $115 and $123
- The US market needs to stabilize for all of this to happen :)
- Note: NVDA analysts (upside) price targets are between $160 (avg) to $236 (highest) - See NVDA forecast page in TV. So patience should be rewarded. Let's get to the safe zone first.
thoughts ?
Let's take a quick look ..
- NVDA has recently formed the famous VCP (Volatility Contraction Pattern) - a good sign for a possible breakout soon
- but the VCP is forming below the 50SMA (blue) and 100SMA(gray) lines
- also there's a "supply pocket" (white rectangle) forming a resistance area at $115
- the good sign is, yesterday (on hype from GOOG and MSFT earnings, NVDA finally broke towards the 50SMA and looks like trying to get above) - first time since wk4 Feb
So when is the ideal entry? what do i need to see ?
=====================================
- Price needs to get above the 50SMA (blue Line) - Which will cause the MACD main line to get into positive zone
- 20SMA (purple line) gets above 50SMA (blue line)
- Ideally price breaks above the 2 pivot levels marked on the chart $115 and $123
- The US market needs to stabilize for all of this to happen :)
- Note: NVDA analysts (upside) price targets are between $160 (avg) to $236 (highest) - See NVDA forecast page in TV. So patience should be rewarded. Let's get to the safe zone first.
thoughts ?
Note
Here's another view that shows the setup we would be looking for and how it manifested in the past - useful ?
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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.