NVDA: Good reaction in an important price level!
Hello traders and investors! Let’s see how NVDA is doing today!
After it defeated the pivot point at $ 214.56, NVDA reversed the trend nicely. It quickly filled the gap (yellow area), making it an Exhaustion Gap, and now it is trading slightly above the resistance at $ 224, which is a good sign.
There’s still a chance that it’ll do a pullback to the 21 ema again, and this wouldn’t ruin the bullish bias at all. When a stock is trending, pullbacks are just opportunities to buy.
What’s more, the pivot point was triggered in a very good moment:
In the daily chart, NVDA just retested the 50% Fibonacci’s Retracement and the support at $ 208 (black line), and it did a nice Doji candlestick pattern too.
We have many bullish signs around, and considering that the long-term trend is bullish, NVDA seems to be perfectly under control.
We see not a single bearish reversal pattern, either in the 1h, daily or weekly charts. It seems NVDA just completed its pullback, and now it resumed the bull trend.
As long as we don’t see any bearish sign, NVDA will remain bullish and seek the next resistances, maybe even the ATH soon. Let’s follow it closely.
If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you!
Have a good day!
After it defeated the pivot point at $ 214.56, NVDA reversed the trend nicely. It quickly filled the gap (yellow area), making it an Exhaustion Gap, and now it is trading slightly above the resistance at $ 224, which is a good sign.
There’s still a chance that it’ll do a pullback to the 21 ema again, and this wouldn’t ruin the bullish bias at all. When a stock is trending, pullbacks are just opportunities to buy.
What’s more, the pivot point was triggered in a very good moment:
In the daily chart, NVDA just retested the 50% Fibonacci’s Retracement and the support at $ 208 (black line), and it did a nice Doji candlestick pattern too.
We have many bullish signs around, and considering that the long-term trend is bullish, NVDA seems to be perfectly under control.
We see not a single bearish reversal pattern, either in the 1h, daily or weekly charts. It seems NVDA just completed its pullback, and now it resumed the bull trend.
As long as we don’t see any bearish sign, NVDA will remain bullish and seek the next resistances, maybe even the ATH soon. Let’s follow it closely.
If you liked this analysis, remember to follow me to keep in touch with my daily updates, and support this idea if it helped you!
Have a good day!
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