Here's the latest detailed breakdown of NVDA on the 1-hour timeframe, emphasizing key reversal zones detected.
📈 Technical Analysis (TA):
* NVDA currently consolidating at around $121, showing signs of indecision at this upper reversal (green) zone, indicating potential profit-taking or reversal.
* Clear bullish structure with a recent Break of Structure (BOS) above $120, but momentum is fading slightly as shown by MACD trending lower.
* Critical bullish reversal support zone (red) detected clearly at $115-$116. A retest of this area could offer a potential entry for longs if buyers step in.
* If price loses momentum at the current resistance area ($121), watch for a retracement to test key support at the identified lower red reversal zone.
📊 GEX & Options Insights:
* Strongest gamma wall and highest positive NET GEX located significantly higher at $130. This remains a key upside target if bullish momentum resumes strongly.
* Immediate resistance at the 2nd call wall at $122 is currently acting as overhead pressure. Further bullish continuation requires a clear breakout above this level.
* Notable PUT support established at the $110 level, providing substantial downside protection if NVDA retraces sharply.
* IV Rank notably low at 11.2%, indicating low premium and relatively low volatility environment, favorable for strategic debit spread setups or long calls/puts based on directional bias.
💡 Trade Recommendations:
* Bullish Scenario: Consider long positions if NVDA holds above $120.50–$121 zone with a breakout confirmation targeting $124 initially, then $130.
* Bearish Scenario: Short-term put options could be favorable if rejection is confirmed at the current green reversal resistance around $121, targeting the red reversal support area around $116.
* Neutral Strategy: Potential for iron condor setups between clearly defined ranges ($115–$125), capitalizing on low IV environment.
🛑 Risk Management: Keep stops tight around recent highs or lows depending on directional bias. Watch volume and MACD closely for confirmation.
Trade carefully and stay alert!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
📈 Technical Analysis (TA):
* NVDA currently consolidating at around $121, showing signs of indecision at this upper reversal (green) zone, indicating potential profit-taking or reversal.
* Clear bullish structure with a recent Break of Structure (BOS) above $120, but momentum is fading slightly as shown by MACD trending lower.
* Critical bullish reversal support zone (red) detected clearly at $115-$116. A retest of this area could offer a potential entry for longs if buyers step in.
* If price loses momentum at the current resistance area ($121), watch for a retracement to test key support at the identified lower red reversal zone.
📊 GEX & Options Insights:
* Strongest gamma wall and highest positive NET GEX located significantly higher at $130. This remains a key upside target if bullish momentum resumes strongly.
* Immediate resistance at the 2nd call wall at $122 is currently acting as overhead pressure. Further bullish continuation requires a clear breakout above this level.
* Notable PUT support established at the $110 level, providing substantial downside protection if NVDA retraces sharply.
* IV Rank notably low at 11.2%, indicating low premium and relatively low volatility environment, favorable for strategic debit spread setups or long calls/puts based on directional bias.
💡 Trade Recommendations:
* Bullish Scenario: Consider long positions if NVDA holds above $120.50–$121 zone with a breakout confirmation targeting $124 initially, then $130.
* Bearish Scenario: Short-term put options could be favorable if rejection is confirmed at the current green reversal resistance around $121, targeting the red reversal support area around $116.
* Neutral Strategy: Potential for iron condor setups between clearly defined ranges ($115–$125), capitalizing on low IV environment.
🛑 Risk Management: Keep stops tight around recent highs or lows depending on directional bias. Watch volume and MACD closely for confirmation.
Trade carefully and stay alert!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.