NVDA - what to expecthi traders,
In this analysis we will have a look at NVDA on 1D time frame.
As we can see, the price found support at 105$ and we got a rejection to the upside.
However, we should be realistic with our expectations.
2 scenarios that I expect to play out:
1. The price gets rejected at the downsloping resistance line and the price will revisit the area of 110-105$ which will be an entry zone for longs.
Stop loss should be placed below 105$.
2. If the price closes below 105$, it should go to the buy zone 2 presented on the chart.
In both scenarios, I expect a new all-time high for NVDA.
Buying at buy zone 2 would be a great entry for a swing traders and long-term investors.