NVIDIA's current price at $1201.58, following a significant rally, suggests a strong bullish momentum. The recent high of $1255.87 indicates the potential for further upside, but the pullback to $1201.58 (down 1.86%) raises questions about near-term sustainability.
Considering the current momentum, a speculative price target could be $1300.00 within the next quarter if bullish conditions persist.
Long position with a target of $1300.00. Place a stop-loss at $1180.00 to mitigate downside risk.
Consider shorting if the price fails to hold above $1180.00, targeting $1100.00 with a stop-loss at $1220.00.
NVIDIA’s strong bullish momentum, driven by robust volume and positive technical indicators, suggests further upside potential. However, overbought conditions and significant resistance levels warrant caution. The suggested long position aims to capitalize on the ongoing trend, while the short strategy provides a hedge against potential pullbacks.
Considering the current momentum, a speculative price target could be $1300.00 within the next quarter if bullish conditions persist.
Long position with a target of $1300.00. Place a stop-loss at $1180.00 to mitigate downside risk.
Consider shorting if the price fails to hold above $1180.00, targeting $1100.00 with a stop-loss at $1220.00.
NVIDIA’s strong bullish momentum, driven by robust volume and positive technical indicators, suggests further upside potential. However, overbought conditions and significant resistance levels warrant caution. The suggested long position aims to capitalize on the ongoing trend, while the short strategy provides a hedge against potential pullbacks.
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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.