NVDA has been respecting this bearish channel since Nov '24 with 5 touches on the lower trendline and 4 touches on the upper.
NVDA most recently bounced off the lower support, making the 5th touch, and gapped up with the indicies to reclaim the midpoint of the channel. With the midline acting as support, movement towards the upside of $127-$130 is much more likely.
Significant resistance might be met at the $125-$126 level but past that the runway is relatively clear for full retracement of the structure.
Structure trade can be easily invalidated by broader macro factors, tariff revisions, & tweets.
NVDA most recently bounced off the lower support, making the 5th touch, and gapped up with the indicies to reclaim the midpoint of the channel. With the midline acting as support, movement towards the upside of $127-$130 is much more likely.
Significant resistance might be met at the $125-$126 level but past that the runway is relatively clear for full retracement of the structure.
Structure trade can be easily invalidated by broader macro factors, tariff revisions, & tweets.
just practicing & learning
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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.
just practicing & learning
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.