NVDA: Next targets + Scenarios to work with!
Hello traders and investors! Let’s see how NVDA is doing today!
First, in the 1h chart, it jumped nicely, but in the end, we couldn’t close above the $ 223, which is the most important resistance level for the short/mid-term. Only if NVDA breaks this point, and closes a candle above it, we’ll see some strength.
While the $ 223 is the most important resistance, the $ 212 is a key support, and it seems NVDA is just doing some range trading between these points. If NVDA breaks the $ 223, it’ll probably reverse the trend, and seek the gap at $ 258.
If NVDA loses the $ 212 it has two supports to hold the price. The first one is at $ 208, which is a very strong support level seen in the daily chart. The next one would be the $ 195.
Since we are very close to the $ 208, and the purple trend line is working as a support level too, the odds are that we’ll do an upwards breakout. However, let’s keep both scenarios in our minds right now, and react to what NVDA does.
Remember: Trading is reactive, not predictive. Let’s wait for more definition before jumping into any conclusion. I’ll keep you guys updated on this, so, remember to follow me to not miss any of my future analyses.
First, in the 1h chart, it jumped nicely, but in the end, we couldn’t close above the $ 223, which is the most important resistance level for the short/mid-term. Only if NVDA breaks this point, and closes a candle above it, we’ll see some strength.
While the $ 223 is the most important resistance, the $ 212 is a key support, and it seems NVDA is just doing some range trading between these points. If NVDA breaks the $ 223, it’ll probably reverse the trend, and seek the gap at $ 258.
If NVDA loses the $ 212 it has two supports to hold the price. The first one is at $ 208, which is a very strong support level seen in the daily chart. The next one would be the $ 195.
Since we are very close to the $ 208, and the purple trend line is working as a support level too, the odds are that we’ll do an upwards breakout. However, let’s keep both scenarios in our minds right now, and react to what NVDA does.
Remember: Trading is reactive, not predictive. Let’s wait for more definition before jumping into any conclusion. I’ll keep you guys updated on this, so, remember to follow me to not miss any of my future analyses.
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