The NVDA stock is facing resistance at the 0.5 Fib. extension level. This resistance was met after a higher low and above 0.618 Fib. While this is a confirmed resistance zone, market conditions are bullish.
The RSI is now above 50. It is at its highest on a rise since late January earlier this year.
Local resistance on the RSI has been broken and this oscillator is trading straight up. This is a positive and strong signal. Here is the chart:
The yellow horizontal line is the local resistance which has been broken. On a drop, this same line would now work as support. A "magic" line I should say. :D
It is magical because it helps us predict the future with a high level of accuracy and certainty; so far so good.
These dynamics: The higher low, the small stop at resistance, the bullish RSI and overall bullish market conditions are all part of a bullish consolidation period.
Let me break it down for you; the market will continue to consolidate for a while, for as long as it needs, before moving higher to hit a new high. The conditions revealed by this chart setup is that the low that was hit 7-April remains the bottom. The market can shake, NVDA can go down, it can go up but this low will never be challenged, you can set your stop-loss below it. Any short-term movements against you is just noise. Wait patiently and eventually it will grow.
If you have any questions leave a comment it will be my pleasure to answer.
Thank you for reading again.
See you tomorrow, or the next day, or yesterday-more again.
Make sure to follow. My main focus is Cryptocurrency but I also do the SPX, NVDA and TSLA. (And sometimes Gold which is bearish now.)
Namaste.
The RSI is now above 50. It is at its highest on a rise since late January earlier this year.
Local resistance on the RSI has been broken and this oscillator is trading straight up. This is a positive and strong signal. Here is the chart:
The yellow horizontal line is the local resistance which has been broken. On a drop, this same line would now work as support. A "magic" line I should say. :D
It is magical because it helps us predict the future with a high level of accuracy and certainty; so far so good.
These dynamics: The higher low, the small stop at resistance, the bullish RSI and overall bullish market conditions are all part of a bullish consolidation period.
Let me break it down for you; the market will continue to consolidate for a while, for as long as it needs, before moving higher to hit a new high. The conditions revealed by this chart setup is that the low that was hit 7-April remains the bottom. The market can shake, NVDA can go down, it can go up but this low will never be challenged, you can set your stop-loss below it. Any short-term movements against you is just noise. Wait patiently and eventually it will grow.
If you have any questions leave a comment it will be my pleasure to answer.
Thank you for reading again.
See you tomorrow, or the next day, or yesterday-more again.
Make sure to follow. My main focus is Cryptocurrency but I also do the SPX, NVDA and TSLA. (And sometimes Gold which is bearish now.)
Namaste.
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🚨 You need PREMIUM trade-numbers to profit from Cryptocurrencies —Best timing & amazing results! 👉 lamatrades.com (Since 2017)
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6119
🏆 FREE Trade-Numbers
anandatrades.com
💥💥💥 Early 2025 Results (NEW)
t.me/masteranandatrades/6119
🏆 FREE Trade-Numbers
anandatrades.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.