What's up, traders? Let's dive into NVIDIA's chart with the SmartTrend Indicator @tradingbauhaus giving us some solid insights.
Price Action: NVIDIA's been on a downward spiral since late March, sliding from ~$148 to $104.28. It's broken below the Ichimoku Cloud, which is a big bearish flag.
Ichimoku Cloud: Price is under the cloud, and it's turned red - bears are running the show. The lagging span (Chikou) is also below the price, doubling down on the downtrend.
Key Levels: We're testing support at ~$100 right now. If it breaks, $92 might be next. Resistance is up at the cloud base around $110.
SmartTrend Indicator tradingbauhaus: This indicator's showing a strong bearish trend with a
Trend Strength of -16.4. Volatility's high at 387.76K, and the 24 High/Low is at -5.6, confirming the downtrend. Volume sentiment is neutral, though.
Signals: The SmartTrend Indicator tradingbauhaus has been dropping red X's (sell signals) that align perfectly with the downtrend. A blue X (buy signal) popped up on April 17, hinting at a possible short-term bounce, but the overall trend still looks bearish.
Volume: We've seen big volume spikes on down days, showing strong selling pressure, though it's eased off a bit recently.
My Take: The SmartTrend Indicator tradingbauhaus is leaning heavily bearish unless we break above the cloud at ~$110. Keep an eye on that $100 support – a bounce could happen, but if it cracks, $92 is in sight. What's your take, fam? Drop your thoughts below!
Price Action: NVIDIA's been on a downward spiral since late March, sliding from ~$148 to $104.28. It's broken below the Ichimoku Cloud, which is a big bearish flag.
Ichimoku Cloud: Price is under the cloud, and it's turned red - bears are running the show. The lagging span (Chikou) is also below the price, doubling down on the downtrend.
Key Levels: We're testing support at ~$100 right now. If it breaks, $92 might be next. Resistance is up at the cloud base around $110.
SmartTrend Indicator tradingbauhaus: This indicator's showing a strong bearish trend with a
Trend Strength of -16.4. Volatility's high at 387.76K, and the 24 High/Low is at -5.6, confirming the downtrend. Volume sentiment is neutral, though.
Signals: The SmartTrend Indicator tradingbauhaus has been dropping red X's (sell signals) that align perfectly with the downtrend. A blue X (buy signal) popped up on April 17, hinting at a possible short-term bounce, but the overall trend still looks bearish.
Volume: We've seen big volume spikes on down days, showing strong selling pressure, though it's eased off a bit recently.
My Take: The SmartTrend Indicator tradingbauhaus is leaning heavily bearish unless we break above the cloud at ~$110. Keep an eye on that $100 support – a bounce could happen, but if it cracks, $92 is in sight. What's your take, fam? Drop your thoughts below!
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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.
Join my trading community! 📈
🔹 Discord: discord.gg/7Fwru9gqbS
🔹 Discord: discord.gg/7Fwru9gqbS
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.