NVDA TA - Earnings Week 2/24

### **NVIDIA (NVDA) - 1D Chart Analysis (Earnings Consideration)**

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### **1. Key Observations**

#### **NVDA Closed at $130.28 (-3.09%)**
- **Bearish pullback from resistance at $135 - $138**, rejecting near recent highs.
- Currently testing **$130 as support**, a key short-term level.
- **Earnings are this week**, which could lead to **increased volatility and large price swings**.

#### **Volume & Momentum**
- **Higher volume selling** today, indicating some profit-taking before earnings.
- RSI is cooling off but still within **neutral territory**, leaving room for further downside if earnings disappoint.

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### **2. Key Support & Resistance Levels**

#### **Resistance Levels (Upside Targets)**
- **$135 - $138** → Major resistance. Needs a breakout to confirm bullish continuation.
- **$140.87 - $144.90** → Strong resistance zone if NVDA rallies post-earnings.

#### **Support Levels (Bearish Targets)**
- **$127.69** → Short-term support. A break below could trigger further downside.
- **$124.50 - $121.50** → Strong demand zone.
- **$118.04 - $114.78** → Key level for a deeper correction.

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### **3. Earnings Consideration & Strategy**

#### **Scenario 1: Bullish Earnings Reaction**
- If NVDA **beats expectations** and provides strong guidance:
- **Break above $135 - $138** could target **$140 - $145**.
- **Calls or shares breakout play** on confirmed strength.

#### **Scenario 2: Bearish Earnings Reaction**
- If NVDA **misses or provides weak guidance**:
- **Break below $127.69** could lead to a drop toward **$124, then $118**.
- **Potential hedge play with puts or selling covered calls near $135 resistance**.

#### **Scenario 3: Neutral / Mixed Reaction**
- If earnings are **in line but not a major catalyst**:
- NVDA may **chop between $127 - $135**, leading to range-bound action.
- A **straddle or strangle options strategy** could capture post-earnings volatility.

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### **4. Hedge Strategy for Long-Term Investors**

💡 **Selling Covered Calls on Big Green Days**
- If holding NVDA long-term, consider **selling covered calls** into resistance near **$135 - $140** on any strong green days this week.
- **Expiration:** Post-earnings, to capture elevated IV.
- **Risk Management:** Be prepared to roll the calls if NVDA spikes post-earnings.

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📌 **Conclusion:**
NVDA is at a **critical level ahead of earnings**, currently holding **$130 support** while rejecting **$135 resistance**. **Earnings will be a major catalyst**, with a **bullish reaction targeting $140+, and a bearish reaction potentially bringing $124 - $118 into play**. **For long-term holders, selling covered calls into strength this week could be a smart hedge.** 🚀