Nvidia - Consolidation Before -50% Drop!Nvidia ( NASDAQ:NVDA ) is preparing for the correction:
Click chart above to see the detailed analysis👆🏻
Nvidia is still creating pretty clear market structure and price action and therefore there is no reason to change direction or opinion. Following the previous cycles, a correction of roughly -55% is likely and Nvidia's recent consolidation is a first strong sign of bearish weakness.
Levels to watch: $120. $60
Keep your long term vision,
Philip (BasicTrading)
Nvda_analysis
NVIDIA | A Second Technical Entry Opportunity This Year
NVIDIA has presented two key technical entry points for investors in 2024.
The first entry came during a correction in early August around the $100 level, which was shared on my TradingView channel.
The second opportunity is now, following last week’s close at an all-time high level.
After NVIDIA's strong rally in 2024, there have been two technical opportunities to enter the stock. The first was during the correction in early August around the $100 mark , which I highlighted in my earlier TradingView post.
The second opportunity has emerged now, as last week's closing price marked the highest in history. While the stock hasn't officially hit an all-time high yet, it has broken through the critical $130 resistance level, which had been a barrier for the past four months. This breakout puts the stock in what is often called "open waters," where there is no significant resistance overhead.
It's important to note that while this presents a potential technical buy, fundamentals play a key role here. The resistance of four months is relatively short in terms of a breakout, and from a psychological perspective, buying at current highs can feel doubting. While the technicals suggest a reasonable entry, it’s crucial to have a clear thesis, a long-term holding plan, and solid fundamental research.
At this point, I would say that entering the stock now carries more risk. It’s not a good entry point for short-term gains, and I wouldn’t recommend an "all-in" approach at these levels. Only investors who are willing to add to their position during a pullback, and who have done their fundamental homework should consider buying now with a long-term perspective.
Summary
NVIDIA has presented two technical buying opportunities in 2024, with the latest one emerging after a modest breakout above $130. While there is potential for further gains, such as a move toward $150-$170, this is a riskier entry, especially for short-term traders. Investors should consider the current market environment, do their fundamental research, and only buy if they’re prepared to hold for the long term or add to their position in case of a pullback.
Regards,
Vaido
We're almost here!We are now just a point from my long held target of a double top, in what I am counting as an irregular (B) of intermediate degree.
Since price is behaving accordingly, I will not expand on what I have been forecasting for some time except to say that if shorting Nvidia in this area (as with any trade) make sure you are using stops...but best to wait for 5 micro waves down, followed by a micro corrective retace for the ideal set-up.
NVDA Set for a Rebound: Will It Hit $137.40 and Beyond?Hey, trading family! Today we’re diving into NVIDIA (NVDA) and its recent price action. Right now, we’re seeing a correction, but all eyes are on whether it can push back up toward that key resistance level of $137.40. Here’s what you need to watch:
Downside risk: If NVDA continues to correct, there’s potential for it to drop below $132. If that happens, we could see the price head even lower, testing support around $128-$130. Keep an eye on these levels, as breaking below them could signal further downside.
Upside potential: On the flip side, if NVDA finds support and buyers step in, we could see it climb toward $137.40. A strong move above this resistance could lead to a bigger breakout, setting the stage for a push higher.
Stay tuned to how NVDA reacts around these key levels—this correction might just present a great opportunity, depending on how the market moves. If this helped, drop a comment or share your thoughts on NVDA’s next move!
Nvidia's Stellar Surge: A Reflection of AI's AscendanceNvidia's meteoric rise in recent months is a testament to the burgeoning artificial intelligence (AI) revolution. As tech giants race to integrate AI into their products and services, the demand for Nvidia's high-performance computing chips has skyrocketed. The company's stock has surged by an impressive 25% in the past month alone, and it's on the brink of breaking its all-time high.
Nvidia's dominance in the AI hardware market can be attributed to its cutting-edge graphics processing units (GPUs), which are ideally suited for the complex computations involved in AI tasks. These chips have proven to be indispensable for training and deploying large-scale AI models, such as those used in natural language processing, computer vision, and generative AI.
As tech earnings season approaches, investors are closely watching Nvidia's performance. The company's financial results will provide valuable insights into the strength of demand for its products and the overall health of the AI market. Analysts are anticipating a strong earnings report, fueled by continued growth in data center sales and increasing adoption of Nvidia's AI solutions.
One of the primary drivers of Nvidia's success has been the accelerated development of AI technologies by leading tech companies. Meta, Alphabet, Microsoft, Oracle, and OpenAI, among others, have been investing heavily in AI research and development. These companies are racing to introduce new AI-powered products and services, such as chatbots, virtual assistants, and generative AI tools. To support these initiatives, they require powerful hardware infrastructure, including Nvidia's GPUs.
The growing demand for AI chips has created a significant opportunity for Nvidia. The company has been expanding its manufacturing capacity and investing in research and development to maintain its technological edge. Additionally, Nvidia has been exploring new markets, such as autonomous vehicles and healthcare, where AI is expected to play a crucial role.
While Nvidia's future prospects appear promising, it's essential to acknowledge the potential risks and challenges that could impact the company's growth. These include intense competition from other chip manufacturers, fluctuations in the global semiconductor market, and the possibility of regulatory hurdles related to AI development.
Despite these risks, Nvidia's strong market position and the increasing importance of AI suggest that the company is well-positioned to capitalize on the ongoing technological revolution. As AI continues to transform industries and society as a whole, Nvidia's high-performance computing chips are likely to remain a critical component of the AI ecosystem.
Semis may be ready to surge.NASDAQ:NVDA has reclaimed most daily supply and may trade into the earnings high if it can reclaim this week's range. NASDAQ:SMH has similarly reclaimed the daily 50 SMA and will go higher upon confirmation of the daily 100 SMA supply. Higher prices in semiconductors, such NASDAQ:AVGO as well, may help NASDAQ:QQQ follow AMEX:SPY to a new all-time high.
NIVIDIA 4 HR: Correcting back to 130.70 or We Pushing Higher UP Morning Traders
Quick update here, currently if we make a break above the 132.70 range the 137.30 is our goal and target however their are a couple hurdles along the way.
We can possibly still correct down to the 130.70 level
I go over the market from 4 hour to 30 minute giving you some levels to look for in today's trading day
Happy Trading
MB Trader
NIVIDIA BULLISH 137 Here IS WHY ? MUST WATCH Morning Traders
I throw the whole kitchen sink at this market from forks to fibs to projections and what we have is the following. We are either breaking up to the 137 range then we will see a nice deep 8-12 dollar retracement. Or we go to 137 and consolidate a touch then keep pushing up to th3 150's. Or we break 131.80 in our correction and then looking at levels of 130.64 as a point of entry for our long position up.
Enjoy the video : like, comment, boost if you found this video helpful or give me your thoughts on where you see the market going
MB trader
Happy Trading
$NVDA Shows Strength - Despite $SPY Weakness!Overall, NASDAQ:NVDA was the name to pay attention to today.
Even though the AMEX:SPY traded to the downside, NASDAQ:NVDA held strong with a push above $130.
The chart is giving us a clear picture of potential upside if they continue to grow and market the business the way they have.
Potential political headwinds are not to be discounted quite yet.
This trade carries risk, however, my cost-basis is below $20/share so I'm not sweating it.
IF NASDAQ:NVDA continues on this upward trajectory - we should see $170/share by early next year.
IF NOT - we can get another great dip buy opportunity in the low $100s.
NVDA Wave Count: Wave 3 Targets Above $125, Breakdown Below $123Hey traders, it’s Mindbloome Trader here with an NVDA wave count from the 4-hour to 30-minute chart. If we break above $125, we’re aiming for wave 3 on the upside. But if we drop below $123, we could see more downside action. Stay sharp and trade what you see!
NVDA Key Levels: Long Above $125.17, Short Below $123Hey traders, Mindbloome Trader here! Just sharing my latest NVDA chart—if we break above $125.17, I’m going long. But if we dip below $123, I’m ready to short. These levels are key, so keep an eye on them. As always, trade what you see and stay sharp!
30 Min- 5 Min NVDA We are Going Up But to Where ???? Good morning Traders
Everyone has a coffee in hand lets get into it
So in the video I break down a bit more wave counting, a few projections on where we are going up and where we might encounter some resistance plus our thesis is still in check on hitting 128-129 zone like we discussed before.
Enjoy
MB trader
#NVDA: Is price going to hit 200-210? Let's wait and seeDear Traders,
First of all, we are mainly looking at the technical and we make decision on what we see on the chart. That is why in our view, behaviour of the price has shown us that there is possibility of swing buy coming and it can be one of the big buying opportunity/investing opportunity. Please this is no guarantee and do your own research before taking any entries.
Nividia How HIGH ARE WE GOING; 135 is on the horizon Good morning Traders
Hope you got your tea and coffee ready I recorded a long video for you to give you the scoop from 4 hour all the the way to 30 minute
First in store we continued with our wave counting: which we always love :)
Second did some projections from our four hour and 30 minute time frame going up
Third we put on a pitchfork to wrap it up like a present
and for a bonus I threw in where we might expect time wise to hit these levels
Enjoy
If you have any feedback on what you like , what you want to learn more about or even what you dont like post it below.
My simple goal is if I can make better videos for you which helps you become a better trader
Happy Hunting for those trades
MB Trader
Yahoo
NVIDIA - A leading Indicator for the AI trend and market NVIDIA - NASDAQ:NVDA
🟣The upper purple parallel line is acting as resistance to price at present. A rejection from this long term purple line may be an early warning signal of a significant correction. A break above it would suggest continued positive momentum.
⏳In combination with the above considerations, a breach down and out of short term parallel channel would be a secondary warning signal of a trend change to the negative.
⏳Falling below the 50 week SMA (red) would be a third confirmation of a negative trend shift.
Obviously these levels could all act as support but if they are lost one after the other (price falling below them). It could be an early warning sign of this AI trend slowing.
✅Otherwise, a repeated 142-152 week bull trend out to June 2025 or April 2026 probable for now.
Why Watch Nvidia closer than the rest?
▫️ Apple, Microsoft and NVIDIA are the top three largest companies in the world by market cap. Collectively they are almost $10 trillion worth of market capitalization. That is almost 22% of the total market cap of the S&P500 Index, so all 3 are worth watching for warning signs or positive momentum.
▫️ Nvidia could lead the market as it is providing the shovels (graphics cards) for the AI data digging/sorting and general compute/data storage. If their performance starts to wane its a signal of less digging/sorting and a slowing of purchases from NASDAQ:AAPL , NASDAQ:MSFT (indicating slowing growth in both). Keeping a close eye on this chart could provide the early warning signals of a trend change, both on the AI front and the entirety of the market cycle.
There is no guarantee of the time sequence continuing on this chart however, these cycles tend to rhyme over time. I hope Nvidia breaks above the purple line at the top of the current long term channel. At present it is stiff resistance, and if price is rejected from here lower, this could be an early warning sign of the a market correction.
Remember, you can check in on this chart and press play to get updated data at any time by clicking the link in the comments below or by following me on TradingView.
PUKA
NVDA Full Analysis covering all angles on Where NVDA will go Good afternoon Traders
In this video its less of an explainer video and more me putting my tools onto NVDA from the Weekly to the 4 hour to show the levels on where NVDA for the coming week and why.
If you have any questions. comments or want me to make any videos in particular more than happy to
happy hunting for those trades
MB Trader
NVDA: 4 hour-30 Min HOW Deep Will We Correct ? Happy Weekend Traders
I made a quick video for you in the relation NVDA
I can see the following scenarios playing out so keep your eyes peeled on these levels:
1) From 120.56 we hold and go up
2) We go down to the 61.8 percent retracement @ 118.45 hold here and go up
3) We go down to 112.88 where we can sky rocket back up from here or start breaking further South
If you have any questions, comments let me know. I will be doing a few training videos on the different tools I use to see the market with if your interested let me know
MB Trader
Happy Hunting