NVDA: A challenging KEY POINT to break!
• After we nailed the target at the 61.8% retracement on NVDA, it did trigger our Hammer candlestick pattern, and it seems it wants to reverse the trend;
• In the weekly chart, everything is going according to the plan, as it broke the 21 EMA, and it is doing another bullish candlestick pattern – The link to my previous analysis is below this post, as usual;
• However, it seems NVDA is trading near a key resistance now. As seen in the daily chart, it just hit the 38.2% Fibonacci’s Retracement, at $157. Also in the daily chart, the $157 area was a previous bottom on NVDA (Dec 07);
• In addition, this is where the 38.2% retracement in the weekly chart is – coincidence or not;
• Therefore, although NVDA looks promising, it has yet to break its main resistance level around $157. Only if it breaks it, we might see NVDA reversing the trend in the mid/long-term;
• For now, let’s keep these key points in mind. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
• In the weekly chart, everything is going according to the plan, as it broke the 21 EMA, and it is doing another bullish candlestick pattern – The link to my previous analysis is below this post, as usual;
• However, it seems NVDA is trading near a key resistance now. As seen in the daily chart, it just hit the 38.2% Fibonacci’s Retracement, at $157. Also in the daily chart, the $157 area was a previous bottom on NVDA (Dec 07);
• In addition, this is where the 38.2% retracement in the weekly chart is – coincidence or not;
• Therefore, although NVDA looks promising, it has yet to break its main resistance level around $157. Only if it breaks it, we might see NVDA reversing the trend in the mid/long-term;
• For now, let’s keep these key points in mind. I’ll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Related publications
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.