Nvidia short NVidia at nearly hit the trend line and pull back expecting to hit 110 before move further highsby stocktwists2211
Analyzing NVIDIA’s with Fibonacci Retracement and TrendlineIntroduction In this post, we delve into the technical analysis of NVIDIA Corporation (NVDA) using key indicators such as Fibonacci retracement, trendlines, MACD, and OBV. This analysis aims to provide insights for traders on potential trading strategies based on current market conditions. Chart Analysis The daily timeframe chart for NVIDIA shows a Fibonacci retracement drawn from the recent high (100 level) to the low of the past 200 days (0 level). This retracement highlights key support and resistance levels that are crucial for understanding potential price movements. Trendline Resistance A descending trendline drawn from the recent high acts as a significant resistance level. The price has attempted to break this trendline twice but failed, indicating strong resistance. As the price approaches this trendline again, traders should be vigilant for potential breakout or rejection signals. MACD and OBV Insights The MACD applied on the On-Balance Volume (OBV) indicator suggests that the volume is in a consolidation phase. This indicates market indecision, likely influenced by global economic cues. The MACD’s momentum signals combined with OBV’s volume trends can provide valuable insights into the stock’s future direction. Trading Strategy Given the current setup, traders can consider the following strategies: Long Entry: Wait for a confirmed breakout above the trendline resistance. This could signal a bullish move, providing an opportunity for a long position. Short Entry: If the price gets rejected at the trendline and starts to move downwards, it could be a signal to enter a short position. Conclusion NVIDIA’s stock is at a critical juncture with the price nearing a significant resistance level. By combining Fibonacci retracement, trendline analysis, MACD, and OBV, traders can make informed decisions. Stay tuned for more updates and insights on TradingView! Feel free to share your thoughts and trading strategies in the comments below. Happy trading!by stocktechbot2
Options Trading PrimerTradingView has recently introduced the Options Strategy Builder, a powerful tool designed to help you learn the mechanics of options trading and create efficient strategies. In this video, I explain the basics of options trading and demonstrate how to use the Strategy Builder. This video is helpful for those who are new to options but wish to explore this area.Education30:04by hermes_trisme1114
NVDA at $172.00???Disclaimer: Please note that this analysis is for educational purposes and is not a recommendation to buy or sell. I'm sharing a technical perspective based on chart patterns. Before making any investment decisions, it's always good to do your own analysis. Looking at the daily chart of NASDAQ:NVDA , we can see that the stock is about to break out of a symmetrical triangle . Basically, what's happening here is that the price is "squeezing" between support and resistance until the moment of breakout. And when that happens, we usually see a stronger move in the direction of the breakout. The target for this breakout is projected by measuring the vertical height of the triangle (the distance between the highest and lowest points of the pattern). We then add this value to the breakout point, which in the case of NVDA , gives us a target around $171.95 . So, if the breakout occurs, that's the range where we can expect the price to go. However, it's worth noting that symmetrical triangles aren't always the most reliable patterns. Many analysts point out that breakouts don't always result in strong or sustained moves. This is because the triangle can form during both consolidation phases and potential reversals, and it’s not always easy to determine which direction the price will go. Additionally, authors like Martin Pring in Technical Analysis Explained and Bulkowski highlight an important drawback: when the breakout occurs near the apex of the triangle (the final point of convergence), the resulting move tends to be weaker. This happens because, by that time, the buying or selling pressure may have already dissipated, which weakens the breakout. And this is exactly where NVDA is right now, which could make the breakout less powerful. What do you think? Do you believe NVDA’s breakout will be strong enough to reach the $171.95 target, or could the proximity to the triangle’s apex weaken the move? Let’s discuss your thoughts in the comments!by LuccasChartRoom1
NVIDIA's Bullish Channel Holds Strong: September 2024 ProgressNVIDIA Stock Analysis and Future Outlook: September 2024 Update Overview: NVIDIA (NVDA) continues to exhibit a robust upward trend, consistently trading within a rising channel. The stock's performance is supported by both strong technical signals and fundamental factors. NVIDIA has established itself as the leader in the AI hardware space, benefitting from surging demand for its GPUs across various industries such as data centers, gaming, and automotive. With a recent rally fueled by the conclusion of CEO Jensen Huang's planned stock sales, the outlook for NVDA remains bullish, although some short-term consolidation could be expected. Price Predictions: 1. Short-Term (Next 1-3 Months): - Given NVIDIA’s recent performance and the slight bearish crossover in the MACD, short-term consolidation is likely. The stock could pull back to test lower support levels near $120 or even $115, which are close to the moving averages and the lower boundary of the upward channel. This presents an opportunity for investors to enter positions at a potential discount. - However, any positive news related to AI advancements or product launches could trigger another leg higher, pushing the stock back above the $130 mark in the short term. A retest of the upper channel resistance near $135-$140 is also possible, depending on market sentiment. 2. Mid-Term (3-6 Months): - Over the next six months, NVIDIA's growth trajectory looks solid, bolstered by strong demand for its AI and gaming chips. Analysts expect the stock to retest its previous highs around $150-$160, particularly as NVIDIA continues to expand its market share in AI and gaming sectors. - Continued strength in its Data Center division, along with strategic partnerships in cloud computing and AI, could see the stock pushing towards $170-$180, assuming no major external shocks or macroeconomic downturns. 3. Long-Term (12-24 Months): - The long-term outlook for NVIDIA remains highly favorable. AI is expected to dominate various industries over the coming years, and NVIDIA is perfectly positioned to capitalize on this trend. Analysts have set price targets ranging from $200 to $250 over the next 18-24 months, contingent on the continued growth of its AI and Data Center businesses. - Longer-term projections could see the stock moving well beyond $250 if NVIDIA’s innovations, particularly in autonomous driving, cloud computing, and AI-powered enterprise solutions, continue to thrive. The recent advancements in sovereign AI and Blackwell chip production further reinforce this bullish outlook. Investment Strategies: 1. Short-Term Strategy: - Buy on Dips: Given the stock's long-term bullish trend but potential short-term consolidation, short-term traders might look for opportunities to buy on dips around $115-$120. This range aligns with technical support levels and offers a solid risk-reward ratio. - Watch Key Resistance Levels: If NVIDIA breaches $130 in the short term, momentum traders could look for further gains up to $135 or $140. However, caution is advised if the stock moves out of the channel or technical indicators suggest overbought conditions again. 2. Mid-Term Strategy: - Hold for AI Growth: Investors with a 6-12 month horizon might consider holding onto their positions, as NVIDIA is expected to benefit significantly from growth in AI, gaming, and cloud computing. NVIDIA's revenue from AI-related applications is forecasted to grow rapidly, which should support stock price appreciation over time. - Leverage AI Boom: Traders could focus on news surrounding NVIDIA’s AI applications, as new product announcements or partnerships in AI or autonomous driving could drive further upward price movements. 3. Long-Term Strategy: - Accumulate for Long-Term Growth: Long-term investors should consider accumulating shares, particularly during pullbacks, with the expectation of significant growth over the next two years. NVIDIA's fundamentals remain strong, and its dominance in AI hardware positions it for continued outperformance in the tech sector. - Diversify Risk: While the long-term outlook is positive, it's important to remain diversified. External risks like geopolitical tensions, regulatory changes, or economic slowdowns could affect NVIDIA’s growth trajectory. However, its current market leadership and innovation pipeline make it a strong candidate for long-term portfolios. Risks and Challenges: 1. Geopolitical Risks: NVIDIA faces potential risks related to U.S. export restrictions on chips to certain countries, which could impact its revenue from international markets. Although the company has mitigated some of these risks through market diversification, any increase in geopolitical tensions or sanctions could create short-term headwinds for the stock. 2. Valuation Concerns: As a high-growth stock, NVIDIA trades at a premium valuation. Any earnings misses or lower-than-expected guidance could result in a sharper-than-expected correction. Investors should keep an eye on quarterly reports and forward guidance. 3. Macro Environment: Broader economic conditions, such as rising interest rates or declining consumer confidence, could affect NVIDIA’s performance. While AI demand may provide some insulation from broader market swings, macroeconomic factors still play a role in overall market sentiment. Conclusion: NVIDIA remains a strong stock for both short-term traders and long-term investors. Its leadership in AI, impressive financial results, and continued innovation make it a compelling growth story. While short-term volatility may arise due to market sentiment or broader economic conditions, the long-term outlook is bullish. Investors should use pullbacks as potential buying opportunities and stay informed of major product launches or geopolitical developments that could impact the stock’s trajectory. has context menu by alfredomares20191
NVDA next possible buy spotNASDAQ:NVDA AMEX:SOXS NVDA is in an ascending triangle pattern (bullish) with cci not showing overbought on the 1hr, 4hr, and 1d. MACD signal is still above on the 4hr and daily. SOXS has recently broken downwards and retested the support turned resistance. This shows that we are headed towards a bullish momentum for NVDA. If I had to make a guess on what will happen next I think that it will go to 125. Either consolidating and breaking out upwards going ath or hit 125 and go back down to 105 - 110 (major support). This is all an assumption GL! also ive predicted the past 2 swings on my previous ideas.Longby pythonnnnUpdated 13
Nvidia corporation Nvidia witnessed a rebound after forming a higher low at 113.22$, to close at the last minor peak at 120.80$, which is the level that needs to be violated, to shift the trend to an uptrend on short-term basis, triggering further rises near 131.26 - 136.15 - 140.75. support1: 113.22$ - support2: 108.80$ - resistance1: 120.80$* - resistance 2: 124.70$ The stop-loss lies below 113.22$. the indicators are heading toward the positive side, which confirms the mentioned positive scenario. The information and publications are not intended to be or constitute any financial, investment, commercial, or other types of advice or recommendations provided.Longby Gehad_Abouelela12
Watchlist: NVDANVDA finally came up on my stock scanner, so I'm adding it to my watchlist. I got a setup signal(1). Looking to enter long near the close of the day if the stock can manage to close above the last candle highs(2) with a stop-loss below (3) and a price target above(4). Volume is slightly higher. "Trading is a game of probabilities. You don't have to be right every time. You just have to follow your rules."by StockHunter881
How To Read The 13 EMA CCIYesterday was a slow day on my end.I had a pack of crackers and some sweet milk, as I walked in town. A very hot day still.. as I was walking I ate my crackers and I didn't care what people thought of me.. Sometimes in the market once you make a decision to enter a trade as long as you understand your risk management it would be best if you tried to ignore the market noise and hold your position I recommended this buy about 8 Days ago..and as you know it didn't perform well but now look at it.. look at NASDAQ:NVDA It's broken even so imagine if you held your position from the time you saw my recommendation you would be proud of yourself and confident in your risk management skills. This is another buying opportunity for you Look at the CCI the price is still undervalued. This CCI is using the 13 EMA. In order for you to learn more Rocket boost this content. Disclaimer: Trading is risky please learn risk management and profit taking strategies.Longby lubosi4
[NVDA] Waiting for the right catalystInteresting to see how NASDAQ:NVDA is silently trying to form an inverted H&S, just need the right momentum to complete the pattern. Until then, wait & see....by moressay4
NVidia to continue pushing higherCurrently the price is printing a triangle pattern, which can break out up or down, regardless of the direction we can safely assume that the price will print a new ATH in Q4 - which in return re-affirms my bullish Q4 for crypto in general. Positive NVDA = Positive AI = Positive cryptoLongby MarketAnalytix1
Bull just getting started again!!!Buy as much as you can here, and tell me in 5 years if ya did any goodLongby azdevil7
NVDA future outlook maybe? (Not Financial Advice) NASDAQ:NVDA From a chart pattern point-of-view, NVDA may be pulling off a massive cup-and-handle structure. Just my opinion. I cant predict the market. Not financial advice.Longby Tienn1237
$NVDA Once in a LIFETIME (UPDATED)Gave yall my long at 106.19 with options just HIT my first TARGET 120🎯 With the Jensen headline news I am still targeting 135, then 150🎯 Using the MM Fibonacci levels I am up over 100% on options and I will share with you how I LAYER in OPTIONS and potentially SHARES (YOU CAN STILL ENTER ON PULLBACKS) These TYPE of trades ARE LOW RISK with 10X potential -> I can win 20% of trades and STILL BE PROFITABLE ❤️if ur in!Longby tradingwarzone10
Chart Pattern Analysis Of NVDA. K3 break up and created a higher high. It seems that another bull run had started from here. Of course, It is still possible that the consolidation had not ended yet. But the possibility of the another bull run increased. So, it is valuable to buy it here or buy it if the following candles successfully retest the lower price area of K3. Buy-118.88/Stop-118.1/Target-129Longby nothingchangehere1
Consolidation Heading into Presidential ElectionNVDA was clearly a market leader today posting 4%+ gains. Looking at the overall structure I am anticipating a broader market sell-off / accumulation heading into the presidential election (topping next week on Tuesday or Wednesday 10/1 or 10/2). My best guess is that we bottom for the break out of this pennant pattern after October's monthly options expiration. Seeing as the monthly volume is declining, I am also anticipating an inside candle to end the month of September as well as October.by daytradederic3
NVIDIA's Stock Surge 4% today: A Deep DiveNVIDIA Corporation (NASDAQ: NASDAQ:NVDA ) witnessed a significant surge of 4% today, driven by a groundbreaking partnership with Alibaba Group Holdings Ltd. ( NYSE:BABA ) aimed at advancing artificial intelligence (AI) and autonomous driving technologies. This collaboration marks a pivotal moment for NVIDIA (NASDAQ: NASDAQ:NVDA ) as it capitalizes on the relentless innovation in the AI sector, which analysts predict will sustain demand for AI chips in the coming years. The Story According to CFRA Research analyst Angelo Zino, the AI computing paradigm is gaining momentum, and major cloud service providers are ramping up investments to avoid falling behind. Zino's insights reflect the broader market sentiment, emphasizing that the growth in AI chip demand will likely be exponential. He stated, “Lack of monetization won't keep hyperscalers from investing in artificial intelligence,” underscoring that robust cloud and digital ad spending will continue to fuel this demand. NVIDIA (NASDAQ: NASDAQ:NVDA ) remains one of Zino's top picks among AI chipmakers, alongside Broadcom (AVGO) and Marvell Technology (MRVL). His price target for NVIDIA is set at $139, suggesting considerable upside potential. This bullish outlook is further supported by NVIDIA's impressive data center revenue growth, which soared by 154% year-over-year to $26 billion, driven by strong demand for Hopper GPU computing and networking solutions. Adding to this positive narrative, NVIDIA CEO Jensen Huang recently completed a significant trading plan, selling 6 million shares but retaining his position as the largest individual owner of NVIDIA stock. This move may reflect confidence in the company's long-term prospects, despite short-term trading activities. Technological Advancements: The HMAX AI Solution The recent launch of Hitachi Rail's HMAX (Hyper Mobility Asset Expert) AI solution, powered by NVIDIA technology, further highlights the company's pivotal role in optimizing transport operations. This all-in-one digital asset management platform leverages AI to enhance asset performance and streamline operations for transport operators. By combining live data collection with advanced AI tools, HMAX allows for real-time processing, significantly reducing the time needed to analyze data and generate actionable insights. Technical Outlook As of the latest trading session, NASDAQ:NVDA is up 3.48%, with a moderate Relative Strength Index (RSI) of 54, indicating potential for further growth. The stock has recently experienced volatility, oscillating within the $100 to $120 range. However, if NASDAQ:NVDA manages to hold above critical support levels, particularly the $111 mark, it may set the stage for a bullish breakout. Investors should watch for key price movements in the coming days. If the stock consolidates and successfully bridges the support of $111, it could dip to the one-month low support before gaining momentum toward new highs. This technical setup suggests that there may be ample room for upside movement as the market digests the implications of NVIDIA’s strategic partnerships and ongoing innovation in AI technologies. Conclusion In summary, NVIDIA's recent partnership with Alibaba positions it favorably in the rapidly evolving AI landscape, supported by strong fundamental growth and innovative technological advancements. Coupled with a robust technical outlook, NASDAQ:NVDA stock appears well-poised for future gains. As the demand for AI computing continues to rise, NVIDIA's role as a market leader is likely to solidify, making it an attractive investment opportunity for those looking to capitalize on the AI revolution.Longby DEXWireNews8
NVDA , 100% retracement done, now 1.618 coming NVDA , 100% retracement done, now 1.618 coming , this is what I found in most of my analysis Longby FibFun3
NVDA, long, Entry: 116.96, Stop: 115.56, Timeframe: 4h**Trade Type:** long **Ticker:** NVDA **Entry Price:** 116.96 **Stop Loss:** 115.56 **Take Profit 1:** 118.63 **Take Profit 2:** 119.64 **Risk/Reward Ratio:** 1.85 **Timeframe:** 4h Longby shayy1105
Could a new record high be coming for NVIDIA Corporation (NVDA) Could a new record high be coming for NVIDIA Corporation (NVDA) shares? NVIDIA shares appear to have slowed in recent weeks, posting a negative quarterly performance of 7 percent. The stock, which had been at an all-time high, suffered a 25 percent loss, but has since rebounded thanks to the CEO's positive outlook. NVDA's second quarter results were impressive, with revenues of $30.04 billion (+15.3%), gross margins of 75.7%, and annual EPS of $0.68 (+11.4%). This success is largely due to its data center revenues, which reached $26.3 billion due to growing demand for Blackwell architecture. There is no doubt that these gains are the result of NVDA's ongoing commitment and continuous innovation. The new Blackwell-class AI superchips are an innovative combination of 208 billion transistors and a custom TSMC 4NP process. Each product features two lattice-limited arrays that connect through an incredible 10 terabytes per second (TB/s) chip-chip interconnect into a single unified GPU. This advanced technology offers extraordinary performance for any application from artificial intelligence to data processing. This super-chip is a true monster, with competitors light years away from this kind of product. When deciding to invest in stocks, it is also important to consider future prospects and analyze the stock's potential. The outlook for this CEO is very positive, in fact, revenue estimates have been increased by 40 percent, a dream figure for any company. Personally, I am confident that this stock is not expensive. The outlook for the future is very positive, and there is ample room for the stock to grow. It makes no sense to focus only on the current numbers, but it is important to consider the future ones as well. Possible dangers on the horizon could be the U.S. elections and possible trade restrictions. The ongoing U.S. presidential election has brought uncertainty about the future of the country's semiconductor industry, mainly due to trade and export restrictions to the Middle East and China-the latter accounting for 12.1 percent of NVDA's sales. Depending on the results of the elections to be held by November 2024, we may see further volatility in the industry. In addition, NVDA's financial performance is largely dependent on four main customers: the three largest hyperscalers, namely Amazon AWS (AMZN), Google Cloud (GOOG), and Microsoft (MSFT), as well as Meta (META). At present, these customers account for 46 percent of Q2 2024 revenues. Therefore, it is important to constantly monitor the situation, as any problem or reduction in orders from any of these customers could have a significant impact on NVDA's financial performance. TECHNICAL ANALYSIS. Nvidia's stock continues to move ahead in its long-term trend, which remains strongly upward. After a sudden rise that began in late September, it is now going through a consolidation phase before the next rally. We expect the stock to break through short-term resistance set at $122 and continue its upward trend. This change could lead the stock to break through the all-time highs reached on June 20 and then aim for the psychological threshold of $150 per share. Any correction before recovery in the $105 area based on long-term bullish dynamics should be considered as an attractive opportunity to enter the market. In my forecast for the next quarter, I see Nvidia's stock rising to $150. This is supported by significant and prospective growth over the next few years, coupled with high margins that make it one of the most profitable companies on the stock exchange. We continue to be very optimistic about this company's business. Longby Antonio_Ferlito5
Comparison of Money Market vs Capital MarketComparison of Money Market vs Capital Market Navigating the financial world requires a clear understanding of its various facets, especially when comparing the money market vs the capital market. These two pivotal markets serve distinct roles in the economy, catering to different investment horizons and risk profiles. This article aims to demystify these markets, providing insights into their characteristics, differences, and the importance they hold for traders and investors alike. What Is the Money Market? The money market involves trading short-term financial instruments. It’s characterised by high liquidity and potentially lower risk, making it a popular choice when it comes to managing short-term financial needs and cash reserves. Instruments traded here include Treasury bills (T-bills), which are government-issued securities with maturities of less than one year. Commercial paper, another common instrument, is an unsecured, short-term debt issued by corporations to finance their immediate operational needs. Additionally, certificates of deposit (CDs) issued by banks offer fixed interest rates for short-term deposits. These instruments collectively may provide a so-called safe haven when investors seek relative stability and quick access to their funds, with minimal exposure to price fluctuations. What Is the Capital Market? The capital market is a financial marketplace where long-term debt and equity-based securities are traded. It's essential for raising capital and serves as a key platform for long-term investment and wealth generation. It includes stocks, representing ownership shares in companies, and bonds, which are debt securities issued by entities like governments and corporations. Stocks offer potentially higher returns but come with greater risk, while bonds often provide a more stable income stream but usually with lower returns. This market plays a crucial role in the economy by enabling capital formation and investment in productive ventures, driving economic growth. It attracts investors seeking opportunities to invest in the future growth of companies, infrastructure projects, and governmental initiatives, offering a range of options from high-risk, high-reward stocks to more conservative bonds. Key Differences Between Money vs Capital Markets In the financial world, understanding the key differences between capital market securities vs money market securities is crucial for investors and traders. While both are integral parts of the financial system, they serve different purposes and offer distinct characteristics. Money Market - Investment Duration: Characterised by investments typically lasting under a year, designed to meet immediate liquidity requirements. - Risk Profile: Offers potentially lower-risk options with relatively stable returns, ideal for conservative investors. - Types of Securities: Features instruments like Treasury bills, commercial paper, and certificates of deposit for quick cash conversion. - Role in the Economy: Provides essential short-term financial effectiveness and efficient liquidity management. - Liquidity: Instruments in this market are highly liquid, which may facilitate fast and easy access to funds. Capital Market - Investment Duration: Focuses on the long-term, often spanning years or decades, aimed at future growth and capital accumulation. - Risk Profile: Involves a higher risk attributable to longer time horizons and market volatility, particularly with stocks. You can keep an eye on stock volatility in FXOpen’s free TickTrader platform. - Types of Securities: Comprises stocks, bonds, and long-term debts, catering to a range of investment preferences. - Role in the Economy: Plays a crucial role in long-term investment strategies, economic growth, and facilitating capital formation. - Liquidity: Securities like stocks and bonds offer varying degrees of liquidity, generally less than money market instruments due to their long-term nature. Importance of Each Market to Traders The money market is critical for traders seeking potential stability and short-term liquidity. Its lower-risk instruments, like Treasury bills and certificates of deposit, are ideal for parking surplus funds with a focus on capital preservation. It’s also invaluable in hedging short-term currency or interest rate risks. On the other hand, the capital market is a key arena for traders aiming to achieve long-term growth and potentially higher returns. Investing in stocks and bonds in the capital market allows traders to participate in the economic growth of companies and governments. While these investments carry higher risk, they offer the potential for greater capital appreciation and returns through dividends and interest. Impact of Economic Changes on Both Markets Economic changes can significantly impact both the money and capital markets but in different ways. In the money market, interest rate fluctuations are a primary influencer. Lower interest rates typically make short-term investments less attractive, reducing returns on instruments like Treasury bills and certificates of deposit. Conversely, higher rates can increase the appeal of these securities. In the capital market, broader economic trends play a more substantial role. Economic growth can boost investor confidence, leading to increased demand for stocks and higher market valuations. Inflation can also impact the capital market, as it may erode the real value of fixed-income securities like bonds. However, political stability and policy changes can either enhance or diminish investor confidence in both markets, affecting performance and investment decisions. The Bottom Line Understanding the differences between these markets is vital. Each market serves unique purposes, catering to different investor needs, from short-term liquidity in the money market to long-term growth in the capital market. For those looking to explore these opportunities, opening an FXOpen account can provide access to a range of stock and ETF CFDs. Happy trading! This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.Educationby FXOpen22238
NVDA likely to retest $120NASDAQ:NVDA Highlights: - Correction pull back got support at FIb0.382 - Pull back structure (short term down trend) broke and making new higher high and lower high - Insider sold shares worth 240M on 9/20 pushed down the price. However price holds and accumulation spotted between $115-$116 price range - Oscillator makes higher high while price makes lower high (hidden bullish divergence) Price prediction: - If price break up $117 level and holds, next res is at $118.5 then $119.5-$120, $124 (60% chance) - If price breaks down 115 level next targets are $113, $111-108.5$Longby MoneyJumper3314
NVIDIA (NVDA), TA for Tomorrow 9/24/2024Key Price Levels: Resistance: $119.95: The recent high from prior trading sessions is a key resistance. A breakout above this level could trigger bullish momentum. $116.99-$117.00: Minor resistance. A test and rejection could lead to a downward move, while breaking through could pave the way to test $119.95. Support: $115.38: The nearest support level. If NVDA falls below this, it could be a bearish signal. $112.77: A more significant support level, acting as a cushion for the price action. A break below could signal a bearish trend continuation. Indicators & Patterns: Volume: Volume is mixed, indicating uncertainty in the current market. We see increasing volume during upward pushes, but the declining volume on consolidations indicates weakening momentum. RSI/Momentum Oscillators: These indicators suggest NVDA is neither overbought nor oversold, leaving room for movement in either direction. Wedge Formation: A potential descending wedge pattern is forming, which could break either way. A breakout above resistance ($117) could lead to a sharp upward movement, while a breakdown below $115 may signal further downside. Potential Scenarios: Bullish: If NVDA holds above $115.38 and breaks through $117, a bullish move toward $120 or beyond is likely. This would depend on market sentiment and broader indices. Bearish: Failing to hold $115.38 could signal a retest of $112.77, with a potential drop to $110 or lower if overall market conditions weaken. Strategy Suggestions: Opening Trade: Watch for a breakout above $117 at the open. This could be a signal to go long, especially if there's strong volume confirmation. Stop Loss: If entering long, set a stop loss just below $115.38 to minimize risk. Downside Caution: If NVDA breaks below $115, consider shorting with a target around $112.77 and tighter stop losses. Note: Tomorrow’s direction could be influenced by broader market conditions or any tech-related news, so keep an eye on macro indicators like the NASDAQ and sector-specific catalysts.by BullBearInsights5