NVDA: Still BULLISH! But keep your eyes on these KEY POINTS.
• NVDA is still incredibly bullish in the daily chart, as it is still doing higher highs/lows, trading above its 21 ema (which is pointing up, by the way);
• On our last analysis, NVDA was about to lose a key support, and although it showed some weakness as we expected, the movement was short-lived, and NVDA quickly recovered again (the link to my last update on it is below this post, as usual);
• There’s a warning sign though, as NVDA is in a key resistance area in the weekly chart, made by the red line at $141 and the 21 ema as well;
• Any evidence of a top sign in the daily chart could translate in a correction, but so far, there’s no top sign on the daily chart yet;
• If NVDA corrects this week, the 21 ema in the daily chart would be a technical support to work with;
• The volume is still low in the weekly chart, so we must keep our eyes open;
• Since NVDA is not doing any top sign yet, we can assume it’ll try to hit the 21 ema in the weekly chart first, filling the last gap in the process (red line at $149);
• I’ll keep you guys updated on this, as NVDA is doing many technical movements recently.
Remember to follow me to keep in touch with my analyses!
• On our last analysis, NVDA was about to lose a key support, and although it showed some weakness as we expected, the movement was short-lived, and NVDA quickly recovered again (the link to my last update on it is below this post, as usual);
• There’s a warning sign though, as NVDA is in a key resistance area in the weekly chart, made by the red line at $141 and the 21 ema as well;
• Any evidence of a top sign in the daily chart could translate in a correction, but so far, there’s no top sign on the daily chart yet;
• If NVDA corrects this week, the 21 ema in the daily chart would be a technical support to work with;
• The volume is still low in the weekly chart, so we must keep our eyes open;
• Since NVDA is not doing any top sign yet, we can assume it’ll try to hit the 21 ema in the weekly chart first, filling the last gap in the process (red line at $149);
• I’ll keep you guys updated on this, as NVDA is doing many technical movements recently.
Remember to follow me to keep in touch with my 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.