NVIDIALong
Retest of Resistance (Bullish Setup)
Hello friends, In this chart of NVIDIA stock, I look into 2 possible scenarios but one positive outcome:
1- Scenario 1: Price move lower in the immediate short term to find support again at $523-$533 zone or possibly to $500-$510 zone where the 100 DMA lies and could support the next upside movement
2- Scenario 2: Price move higher without testing the support zones
The outcome of testing and validating the support zone would be a rally in the price targeting the ATH at $589.
Trade Setup:
Buy anywhere $500 to $533 after bullish hourly candle
TP from $570 to $589 and possibly higher but take some profits prior
SL below $490
If you like this idea, please like and follow. Thank you for the support and good luck :)
1- Scenario 1: Price move lower in the immediate short term to find support again at $523-$533 zone or possibly to $500-$510 zone where the 100 DMA lies and could support the next upside movement
2- Scenario 2: Price move higher without testing the support zones
The outcome of testing and validating the support zone would be a rally in the price targeting the ATH at $589.
Trade Setup:
Buy anywhere $500 to $533 after bullish hourly candle
TP from $570 to $589 and possibly higher but take some profits prior
SL below $490
If you like this idea, please like and follow. Thank you for the support and good luck :)
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.