nVidia has become an extremely popular stock amongst market participants, and has a large potential to revolutionize the world through their AI technologies and computer processing chip sales, amongst other benefits.
However, going into this uncertain time pre-election, there is potential for volatility to be present in markets before moving to higher levels.
At the moment, we are still trending upwards on the longer term, with a large base / liquidity zone at my buy targets between $65-$75.
There are several levels of confluence that I have for this trade:
1) Liquidity zone located at the pivot low of $75. I would look for a swing failure pattern here.
2) Gap zone from $66/$68 would be nice to fill and bounce from.
3) Trend based fib extension from the low at $91 and then swing high at $131 at the 0.618 would bring us exactly to the point of liquidity marked at $75.
4) I would like to see Bullish CVD and divergences at these prices as another confirmation to take a swing long trade.
My analysis is based strictly off the technical's on the charts, and there wont be much updates here unless the alert is triggered at $75.
Only time will tell!
However, going into this uncertain time pre-election, there is potential for volatility to be present in markets before moving to higher levels.
At the moment, we are still trending upwards on the longer term, with a large base / liquidity zone at my buy targets between $65-$75.
There are several levels of confluence that I have for this trade:
1) Liquidity zone located at the pivot low of $75. I would look for a swing failure pattern here.
2) Gap zone from $66/$68 would be nice to fill and bounce from.
3) Trend based fib extension from the low at $91 and then swing high at $131 at the 0.618 would bring us exactly to the point of liquidity marked at $75.
4) I would like to see Bullish CVD and divergences at these prices as another confirmation to take a swing long trade.
My analysis is based strictly off the technical's on the charts, and there wont be much updates here unless the alert is triggered at $75.
Only time will tell!
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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.