NVDA: Doing as planned. Could it keep climbing?
• NVDA is still in a bear trend, doing lower highs/lows, while trading below the 21 ema;
• In theory, the 21 ema is supposed to work as a resistance, and NVDA would perform a top sign in this area before resuming the bearish sentiment;
• In this scenario, we would just head to the $115, the next support level;
• However, if NVDA breaks the 21 ema, and closes a candlestick above it, then it might seek the $144 next. This wouldn’t be a reversal sign yet, but could be the beginning of one;
• If NVDA triggers a reversal sign in the future, the next resistance to work with would be the $192;
• Read my last analysis on NVDA for more details on what it takes for NVDA to reverse (link to it is below this post);
• For now, there’s no evidence of a reversal, but it is important to keep an eye on the 21 ema in the daily chart for now, as this is the most important resistance in the short-term for NVDA;
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
• In theory, the 21 ema is supposed to work as a resistance, and NVDA would perform a top sign in this area before resuming the bearish sentiment;
• In this scenario, we would just head to the $115, the next support level;
• However, if NVDA breaks the 21 ema, and closes a candlestick above it, then it might seek the $144 next. This wouldn’t be a reversal sign yet, but could be the beginning of one;
• If NVDA triggers a reversal sign in the future, the next resistance to work with would be the $192;
• Read my last analysis on NVDA for more details on what it takes for NVDA to reverse (link to it is below this post);
• For now, there’s no evidence of a reversal, but it is important to keep an eye on the 21 ema in the daily chart for now, as this is the most important resistance in the short-term for NVDA;
I’ll keep you guys updated on this. Remember to follow me for more analysis like this! Keep in touch.
⚠️ 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.