Checking NVDA on the 4-hour chart for some actionable trade setups.
📈 Technical Analysis (TA):
* NVDA clearly broke through its descending wedge, hinting at a bullish reversal.
* Noticed a Change of Character (CHoCh) which signals the momentum shifting upwards.
* Current resistance (supply zone) around $122–$126 is the key level to watch.
* Major support at the recent BOS around $104.35; keep an eye here if price retraces.
* Upper supply zone around $143 could act as a strong resistance if the breakout continues.
📊 GEX & Options Insights:
* Highest positive NET GEX and call resistance at $126—crucial gamma wall here.
* Strongest PUT support around $110, marking the lower boundary clearly.
* IV Rank at 36.1% suggests moderate premium pricing—consider credit spreads or debit spreads strategically.
* CALL ratio at 28.4% indicating slightly bearish options sentiment.
💡 Trade Recommendations:
* Bullish Play: Wait for NVDA to confidently close above $126; aim calls towards the $140 range. Keep stops tight around $120.
* Bearish Play: Look for rejection at $126. Consider puts targeting the $110–$104 zone.
* Neutral traders can implement Iron Condors or spreads between clear ranges ($110–$126).
🛑 Risk Management: Stick to disciplined trades, and manage your risk carefully given moderate volatility.
Happy trading, team!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
📈 Technical Analysis (TA):
* NVDA clearly broke through its descending wedge, hinting at a bullish reversal.
* Noticed a Change of Character (CHoCh) which signals the momentum shifting upwards.
* Current resistance (supply zone) around $122–$126 is the key level to watch.
* Major support at the recent BOS around $104.35; keep an eye here if price retraces.
* Upper supply zone around $143 could act as a strong resistance if the breakout continues.
📊 GEX & Options Insights:
* Highest positive NET GEX and call resistance at $126—crucial gamma wall here.
* Strongest PUT support around $110, marking the lower boundary clearly.
* IV Rank at 36.1% suggests moderate premium pricing—consider credit spreads or debit spreads strategically.
* CALL ratio at 28.4% indicating slightly bearish options sentiment.
💡 Trade Recommendations:
* Bullish Play: Wait for NVDA to confidently close above $126; aim calls towards the $140 range. Keep stops tight around $120.
* Bearish Play: Look for rejection at $126. Consider puts targeting the $110–$104 zone.
* Neutral traders can implement Iron Condors or spreads between clear ranges ($110–$126).
🛑 Risk Management: Stick to disciplined trades, and manage your risk carefully given moderate volatility.
Happy trading, team!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
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.
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.