Nvda finally broke the support wil hi h I have been waiting for for what feels like a bit now.
Now the level is tough to call exactly but off hourly candle bodies 265.30 looks like that perfect area to watch for another test of now that we saw the intial reaction of the break of this . 264.43 was a previous low wick area as well which may mean something too but I think I can safely say that this 265.30 should be a perfect reistance to watch. Now as you see I do have this drawn as a bullish pattern.
As of now I actually think nvda is making a bullish pattern here as it will contiue to consildate into this pattern resetting all oscillators for the next big move.
Overall I am seeing a large rising channel that we broke down from so the target of this technically means the bottom of the channel down at potentially 251 area but I have a key support of 255
As the lowest support of the previous bullflag channel breakout. Howver the top end of the previous bullflag breakout is actually roughly where we bounced today
So for now I see NVDA finding a range from 261.20 up to 265.30 possible.
If we start to reject and close below and hold 261.20 as reistance this could signal another breakdown towards 255
If NVDA is going to pull what Tesla did and come all the way back to its intial breakout area then
242.30 is that very key key key support that held nvda back prior. This level will be absolute banger of a level to buy off of but I’m not so sure it’ll make it down that low
What’s the trade for tomrorow ? We’ll initially I’m thinking the short off 265.30 rejextion confirmed could be a sick trade back to 261.20. At that level your choice will be close it for profit there or wait and see if nvda wants to smash through that low and head for 255 at the possible risk of it bouncing back hard off a second test.
Personally I’d like the short idea we reject 265.30 and short it down and close at 261.20. Watch how price reacts, and potentially long off that if we do show bullish chance of a bounce.
Now the level is tough to call exactly but off hourly candle bodies 265.30 looks like that perfect area to watch for another test of now that we saw the intial reaction of the break of this . 264.43 was a previous low wick area as well which may mean something too but I think I can safely say that this 265.30 should be a perfect reistance to watch. Now as you see I do have this drawn as a bullish pattern.
As of now I actually think nvda is making a bullish pattern here as it will contiue to consildate into this pattern resetting all oscillators for the next big move.
Overall I am seeing a large rising channel that we broke down from so the target of this technically means the bottom of the channel down at potentially 251 area but I have a key support of 255
As the lowest support of the previous bullflag channel breakout. Howver the top end of the previous bullflag breakout is actually roughly where we bounced today
So for now I see NVDA finding a range from 261.20 up to 265.30 possible.
If we start to reject and close below and hold 261.20 as reistance this could signal another breakdown towards 255
If NVDA is going to pull what Tesla did and come all the way back to its intial breakout area then
242.30 is that very key key key support that held nvda back prior. This level will be absolute banger of a level to buy off of but I’m not so sure it’ll make it down that low
What’s the trade for tomrorow ? We’ll initially I’m thinking the short off 265.30 rejextion confirmed could be a sick trade back to 261.20. At that level your choice will be close it for profit there or wait and see if nvda wants to smash through that low and head for 255 at the possible risk of it bouncing back hard off a second test.
Personally I’d like the short idea we reject 265.30 and short it down and close at 261.20. Watch how price reacts, and potentially long off that if we do show bullish chance of a bounce.
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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.