NVDA into Strong Resistance Zones... What Next?Here we are looking at NVDA on the Daily TF…
As we try to figure out what NVDA will do next, one thing is very clear when looking at its chart: NVDA is currently trading in a very strong resistance zone.
Currently, NVDA is testing two resistance lines:
1. The Upwards sloping trend line which dates back to July of 2021
2. Horizontal resistance which is a gap fill.
As NVDA tried to break through these lines, it has been rejected thus far. There is still time for the daily candle before it closes the weekly candle, however if it were to close as is, we’d be looking at a topping tail candle which is a sign of reversal.
If NVDA closes with a topping tail, and closes with a preliminary rejection of this two confluent resistance lines, I find a pull back move to follow…
Are you trading NVDA? Let me know in the comments!
Cheers!!
Nvidia
Nvidia -> Time To Fill The GapHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe Nvidia stock just had a massive rally towards the upside, just the past 70 days the market is up about 75%.
You can also see that during this long move towards the upside, we didn't really have any weekly correction towards the downside, so from a weekly perspective I do expect at least a short term correction to retest the next weekly previous resistance area, which is now turned support.
On the daily timeframe you can see that Nvidia stock is starting to create resistance at the current $235 area, so from here it is quite likely that we will see a short term correction towards the downside to retest the next previous daily support zone, which should be turned support once again.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Nvidia -> Breakout TimeHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe Nvidia stock just recently created a very obvious inverted head and shoulders and I uploaded a lot of analysis always pointing towards this bullish pattern which will lead to a longer term bullish move.
The past couple of weeks Nvidia already started this bullish move, we now just broke about a weekly resistance area so I simply do expect the continuation towards the upside from here.
With earnings coming out yesterday, the market today gapped higher 15%, breaking also a daily resistance area so I am now just expecting a retest of the previous resistance, now turned support, and then the continuation towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
NVDA NVIDIA Corporation Options Ahead of EarningsIn case you haven`t bought the dip:
Then you should know that looking at the NVDA NVIDIA Corporation options chain ahead of earnings , I would buy the $210 strike price Puts with
2023-7-21 expiration date for about
$24.25 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
I have chosen that expiration date to allow me to be wrong and not close the position and to have a bigger gain by the expiration date, if NVDA keeps going lower.
Looking forward to read your opinion about it.
NVDA NVIDIA Corporation Options Ahead of EarningsLooking at the NVDA NVIDIA Corporation options chain, i would buy the $180 strike price Calls with
2023-3-17 expiration date for about
$16.35 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Remember, this is a medium term play, we could not necessarily see instant results.
Looking forward to read your opinion about it.
Nvidia -> Higher, Higher And HigherHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Nvidia is actually quite overextended towards the upside, just the last couple of weeks the market had a pump of about 65% towards the upside.
Considering the fact that from a weekly perspective we are also retesting previous support which is now turned resistance, I do expect a short term rejection towards the downside and then the longer term continuation towards the upside.
On the daily timeframe you can see that we are currently retesting also previous resistance, so I am now just waiting for some bearish rejection which will then lead to a short term weekly correction towards the downside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
AMD: SUPPLY & DEMAND / MARKET MOVER / FORTY-FIVE MADESCRIPTION: In the chart above I have provided a MACRO to SEMI-MICRO analysis of AMD's price action. With a large amount of history backing AMD's price action and overall impact on economic factor I would personally consider AMD to be a MARKET MOVER.
POINTS:
1. MACRO Deviation: 13.75, SEMI-MICRO Deviation: 6.8
2. Current Uptrend Channel
3. WATCH 45 MA SINCE THE START OF BEAR MARKET THIS IS THE SECOND TIME THE 45 MA RISES ABOVE THE 200 MA.
4. WIDER UPTREND CHANNEL has developed.
IMPORTANT: IF PRICE ACTION FALLS BELOW 82.50 FURTHER DOWNWARD MOMENTUM CAN THEN BE ON THE WAY.
SCENARIO BEARISH: Current RSI & MACD levels falls in tandem with overbought territory being shown where current price action stands in NEW CHANNEL. Watch for loss of 82.50 if this is the case it is crucial 68.75 does not break because this can signify an opening for a new downtrend channel.
SCENARIO BULLISH: IF 82.50 is lost watch for strong bounce on 75.63 to PRESERVE BULLISH MOMENTUM OF MA's.
FULL CHART LINK: www.tradingview.com
NASDAQ:AMD
NVDA Become AI Meme StockWe have seen massive drop in NVDA stock last year. However the price has not come down the the normal range yet. NVDA is still traded more than 10x of book value. Look like NVDA recent price jump were due to market excitement on AI company. However from financial perspective NVDA book value and earning has been on the decline. We are using Stock Value Rainbow indicator to evaluate stock valuation based on four financial metrices: book value, earning, dividend and cash flow. The rainbow color depict the multiples values of all these four factors summed up together. The rainbow above the gray lines represent 1x, 2x, 3x, .., 10x of stock value. While rainbow below the gray line represent 0.8x, 0.6x, 0.4x, 0.2x stock value. The higher the value the more expensive the stock, the lower the value the cheaper it is according to these fundamental or financial valuation metrices. Look like NVDA stock still prone to valuation squeeze if the economy is going into recession. So take some precaution if you decided to enter into it.
Significantly Over Valued Nvidia.. Nvidia along with many other stocks were pumped up over 100% from the recent October low. I believe this is a bull trap and a bear market rally in a really big down trend. I am not biased but I just believe stocks are running up towards a cliff. Right now there are on the edge IMO.
Nvidia Sell SignalNvidia just put in a reversal signal on the Daily chart as it hit major resistance.
This semiconductor has been a powerhouse mover and has single handily been lifting the Semis sector higher.
Now that this stock may show some near term sell pressure we could see the sector as a whole pullback.
The only thing that Im being mindful of when it comes to NVDA is that it has yet to report earnings.
As a technical analyst I'm a bit dissatisfied that Nvidia came so close to filling the technical daily gap at 230.46 but never managed to fill it which leads me to think there may be a possibility it has 1 more gasp at a rally to fill the gap before rolling over.
None the less distribution is being observed in a time when yields and dollar may be spiking again.
AAPL: LAST MAN STANDING / FIB / PREDICTION / MASSIVE CHANNELDESCRIPTION: In the chart above I have provided a detailed MACRO analysis of AAPL laid out in its MASSIVE MONTHLY CHANNEL of 180 - 123.75 that has been held since DECEMBER 2020. Out of 8 massive US market movers AAPL was the only one to hold a positive position at market close on Feb 3.
IMPORTANT LIST OF US MARKET MOVERS: AAPLE, COSTCO, NVIDIA, FACEBOOK, ALIBABA, AMAZON, GOOGLE, AMD
POINTS:
1. Deviation of 6.25 DICTATES SUPPLY & DEMAND POCKET PLACEMENT.
2. Dotted orange vertical lines represent a months time.
3. EMA'S: 45 (BLUE), 100 (YELLOW), 200 (RED).
4. Green dotted vertical lines represent top for AAPL top.
5. Optimal Target: 161.25
6. Notice EMA movement where current placement would signify price action has plenty to give to the upside.
RSI: Common Range for RSI to linger between 50 - 70 despite somewhat overbought territory.
MACD: Notice current uptrend of buying to selling pressure and not the similar trajectory and angle. MACD has yet to ride trend before drop occurs which is highlighted by sphere.
SCENARIO #1: In a BULLISH scenario price action lingers around 155 SUPPORT and we see sideways action OR we see a sudden drop in the coming days but bounce 148.75 SUPPORT without losing upward momentum and confirming a continuation of upward momentum and confirming current setup.
SCENARIO #2: In a BEARISH scenario price action 148.75 & continues with strong downward momentum to 145 and beyond that break uptrend and invalidate setup.
FULL CHART LINK: www.tradingview.com
NASDAQ:AAPL
NVIDIA - LONG situation Instrument: NVDA
Optimum technical indicator: RSI DYN 14 EMA 200
Current signal: LONG
Technical indicator win-rate: 52%
Days for backtesting: 2220
Timeframe for testing: 1D
Forecast day price: 159,0900
Enter point: 165,000
Take-profit: 189,000
Current stop-loss: 150,9013
Multiple for stop-loss strategy ATR(14): 1,1
Average trades per month with optimum technical indicator: 3
Average time for 1 trade with optimum technical indicator: 8
Average profit per 1 trade: 5,52%
Projected annual return w/o leverage: 43,3%
Technical analysis applicability for 3325 technical strategies: 99%
Technical analysis recommendations:
Long: 59%
Short: 36%
Neutral: 5%
Stable long-term profit for FOREX, CRYPTO, Equity based on backtesting optimization algorithm. Instant analysis of 3.2K technical strategies
Nvidia Multi-Timeframe Analysis 29.01Hello Traders,
welcome to this free and educational technical analysis .
Nvidia is looking very bullish on the weekly timeframe, considering that we are creating a massively bullish inverted head and shoulders.
On the daily timeframe I am now just looking for a retest of the neckline of the head and shoulders and some bullish confirmation on the lower timeframes to enter a long
to capitalize on the next massive move towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
Breakout on Daily Chart Time to buy! ❤️ Daily Timeframe beautiful Kumo Breakout that destroyed the downtrend channel we've got for a long period of time.
Downwards channel breakout set up.
Please set stop loss below the cloud and take profits before seller pressure comes in.
Never risk more than 2% of your capital and let it rain ❤️
Trading Idea 006: NVIDIAMarket Conditions:
- trend reversal
- bullish sentiment in the market
- overbought
Key Level and Lines:
- $192.74 resistance
Trading Ideas:
- go short from the resistance using reversal and false breakout signals
- if the price moves above the resistance and stays above, probably go long.
NVIDIA and AMD Are Breaking Important Bullish LevelsAMD and Nvidia stocks are breaking higher this week, possibly ready for more gains as the recent corrective pullback to 140 and 60 USD appears completed. More upside here can be positive for cryptos about I talked in our webinar this Monday, here on tradingview.
Grega
I put link below if anyone is interested in recording.
www.tradingview.com