NVIDA what next..!The chart displays NVIDIA (NVDA) stock on a daily interval with several indicators and clear support and resistance levels. Here is a detailed technical analysis:
1. Support and Resistance Levels:
Nearest Resistance Level: $150 (above the closing price).
Key Support Levels:
$140.75 (immediate support level).
$130.62 (secondary support level).
$127.21 (critical support level for the medium term).
2. Ascending Channel:
The chart shows movement within a clear ascending channel, with the stock nearing the lower boundary of the channel.
A drop below the lower support line of the channel (around $140) could indicate a trend reversal.
3. Indicators:
Moving Averages:
The 50-period moving average (green) is above the closing price, supporting the continuation of the uptrend.
The 150-period moving average (dark green) is far below the current price, indicating strong long-term support.
CCI (14):
The current value is -2.96, indicating a nearly neutral state but slightly leaning bearish.
Volume:
Higher-than-average volume on the last day suggests significant selling pressure.
4. Candlestick Analysis:
The last candlestick is a large red bearish candle, reflecting a strong daily bearish sentiment.
The candlestick formation shows bearish pressure but is close to a significant support level.
5. Risk Assessment:
The risk level is moderate since the stock is near a clear support level but experiencing strong selling pressure.
Position Recommendation:
Entry: Around $140.75 (near the immediate support level).
Stop-Loss: Below $138 (approximately 2% below the entry point).
Profit Target: $147 (around a 5% increase from the entry point).
Summary:
The stock's trend over the past two weeks is bullish, but the last day indicates a potential correction.
It is recommended to monitor the price reaction near the $140.75 level and evaluate the strength of the support.
Disclaimer:
This analysis is for educational purposes only and does not constitute a recommendation to buy or sell any financial instrument. Please conduct your own research or consult with a financial advisor before making any investment decisions.
