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NVDA trade ideas

NVDA this morning 10/16/24Looking at NVDA this morning. Current Price Action: NVDA is hovering around $132.40. After a recent drop, the stock is attempting a recovery, showing some consolidation in this area. Volume Profile: The visible volume profile shows a key support level around $128.75. There’s a significant accumulation at the $132-134 range, indicating potential resistance overhead. Resistance Levels: Immediate resistance can be seen at $134.02, with a stronger level around $138.47. Support Levels: Strong support is around $128.75, with another potential bounce level near $126.69 if NVDA continues to drop. MACD: The MACD shows a recent crossover, suggesting a bullish reversal attempt, but it may still be in a weak uptrend given the overall downward movement before it. EMA: NVDA is currently near the EMAs, and crossing above them could trigger more buying interest, especially if volume picks up. End-of-Day Outlook: If NVDA can hold above the $132.35 area and break through the $134 resistance, we could see a test of the $138 level. However, if the current resistance proves too strong and it drops back below $132, there’s a likelihood of testing the $128.75 support. Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research or consult with a professional before making any trading decisions.
NASDAQ:NVDA
by BullBearInsights
Nvidia (NVDA) Shares Fall Over 4%, Missing a Record HighNvidia (NVDA) Shares Fall Over 4%, Missing a Record High On 12 September, when analysing Nvidia’s (NVDA) stock chart, we drew an upward channel (shown in blue) and noted several resistance levels, including: → a downward trendline (shown in red); → a psychological level at $130. As Nvidia’s (NVDA) stock chart shows, the bulls managed to overcome this resistance zone with a strong candle on 7 October (marked with an arrow). Afterwards, Nvidia’s (NVDA) stock price reached the median line of the blue channel, but sharply reversed downwards yesterday. The bearish sentiment was driven by: → a broader decline in the US stock market, potentially due to investors reassessing risks following the initial corporate earnings results as the reporting season gains momentum; → rumours that the US government is preparing restrictive measures (which may affect Nvidia) to prevent the export of high-tech chip manufacturing technology abroad. As a result, Nvidia’s (NVDA) stock price dropped by approximately 4% yesterday, just shy of the record set on 20 June. What’s next? A technical analysis of Nvidia’s (NVDA) stock chart suggests that support could come from the zone formed by the strong bullish candle on 7 October: → this area includes a combination of psychological levels at $130 and $125; → here, demand forces proved their strength, overcoming the red resistance line that had been in play for nearly four months (this line could now act as support); → a bullish Fair Value Gap can be found on the daily chart in this area. These bullish factors suggest that the price could make another attempt to set a new record by rebounding from the $125-130 support zone. On the other hand, the bears are showing signs of control around the psychological level of $140, near the record high and the median line of the blue channel. Meanwhile, forecasts remain positive. According to a Tipranks survey of 42 analysts, 39 recommend buying NVDA shares, with the average price target for NVDA standing at $152.86 in 12 months. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:NVDA
by FXOpen
2
Will NVDA Bounce or Breakdown? Key Levels to Watch at $129 and BGood evening Trading Family NVDA is at a critical point right now—will it bounce back from $129, or are we headed down to $126 (or lower)? Let’s dive into the key levels I’m watching and break down what might happen next. If the market holds up, we could see a solid bounce, but if not... well, buckle up for a bigger drop. No fluff—just some good ol' technical analysis with a dash of Fibonacci and candlestick magic. If you found this helpful (or just mildly entertaining), give it a like, drop a comment with your thoughts, and hit follow for more updates. Your engagement helps me keep the content coming—and who knows, it might even help NVDA bounce back too! MB Trader Trade what you see not what you assume
NASDAQ:NVDA
by Mindbloome-Trading
NVIDIA GOING TO $75?? Unlikely but the chart shows...We have a DOUBLE TOP AND A RISING WEDGE with a price target of $75 on the daily chart. It seem unlikely but there is a big old gap from back in Feb 2024 at $75. There is another gap that needs to be filled around $119 that seem more likely. IMO the market like to balance itself by filling the gaps it leaves behind. The RSI looks to of topped out and is also curving over. Its very unlikely for NASDAQ:NVDA to drop that far down, but down to $119 seems likely before a possible Christmas rally (and wash sales) in late DEC. NVDA is such a strong company and demand for its chips is high, I really don't like the looks of that Double Top combined with a Rising Wedge. Safe Trading everyone!! (Charts are only part of the bigger picture especially with Nvidia, it is a beast of a company and who wouldn't love the opportunity to buy more NVDA at $75)
NASDAQ:NVDA
by JoeKing1
2
Nvidia - Consolidation Before -50% Drop!Nvidia ( NASDAQ:NVDA ) is preparing for the correction: Click chart above to see the detailed analysis👆🏻 Nvidia is still creating pretty clear market structure and price action and therefore there is no reason to change direction or opinion. Following the previous cycles, a correction of roughly -55% is likely and Nvidia's recent consolidation is a first strong sign of bearish weakness. Levels to watch: $120. $60 Keep your long term vision, Philip (BasicTrading)
NASDAQ:NVDAShort
by basictradingtv
48
Bullish on NVDA: Riding the AI Wave!In trading, understanding the probabilities is crucial. By analyzing historical price movements and applying mathematical principles, I can identify high-probability setups on my charts. This mechanical strategy allows me to make informed decisions about entering long positions on NVDA. Why probabilities? They help me navigate the unpredictable nature of the market, ensuring that my trades are backed by solid data rather than just intuition. Here are some key fundamentals currently supporting a bullish bias for NVIDIA (NVDA): - Surging Demand for AI Chips: NVIDIA is at the forefront of the AI revolution, with its chips being essential for training large language models and powering generative AI applications. The company has seen a staggering increase in demand for its GPUs, particularly the H100 chip, which has become critical for tech giants like Microsoft, Google, and Meta. - Impressive Financial Growth: NVIDIA's stock has surged over 150% this year, significantly boosting its market capitalization. Analysts expect continued strong revenue growth, with projections estimating a 75% increase in third-quarter revenue to approximately $31.69 billion. This financial momentum reflects the robust demand for its AI-related products. - Strategic Positioning in Data Centers: As companies invest heavily in AI infrastructure, NVIDIA's GPUs are becoming indispensable for data centers. The projected global capital expenditure on data centers is expected to rise dramatically, benefiting NVIDIA as it supplies the necessary hardware. - Innovative Developments: NVIDIA is actively developing new AI processors to comply with U.S. export regulations, ensuring it maintains a foothold in critical markets like China. This adaptability positions NVIDIA favorably against rising competition from companies like AMD and Huawei. - Market Leadership: With its early investments in AI technology and continuous innovation, NVIDIA has established itself as a leader in the AI chip market. This dominance allows it to command premium prices and maintain high profit margins, which were reported at 79.1% in the first quarter of 2024. These factors collectively create a strong foundation for a bullish outlook on NVIDIA as it continues to capitalize on the growing demand for artificial intelligence technologies. Join me in this journey towards maximizing our potential gains as we ride the bullish wave! 12M: 2W: 1H:
NASDAQ:NVDALong
by Jasminex1x2
NVIDIA | A Second Technical Entry Opportunity This Year NVIDIA has presented two key technical entry points for investors in 2024. The first entry came during a correction in early August around the $100 level, which was shared on my TradingView channel. The second opportunity is now, following last week’s close at an all-time high level. After NVIDIA's strong rally in 2024, there have been two technical opportunities to enter the stock. The first was during the correction in early August around the $100 mark , which I highlighted in my earlier TradingView post. The second opportunity has emerged now, as last week's closing price marked the highest in history. While the stock hasn't officially hit an all-time high yet, it has broken through the critical $130 resistance level, which had been a barrier for the past four months. This breakout puts the stock in what is often called "open waters," where there is no significant resistance overhead. It's important to note that while this presents a potential technical buy, fundamentals play a key role here. The resistance of four months is relatively short in terms of a breakout, and from a psychological perspective, buying at current highs can feel doubting. While the technicals suggest a reasonable entry, it’s crucial to have a clear thesis, a long-term holding plan, and solid fundamental research. At this point, I would say that entering the stock now carries more risk. It’s not a good entry point for short-term gains, and I wouldn’t recommend an "all-in" approach at these levels. Only investors who are willing to add to their position during a pullback, and who have done their fundamental homework should consider buying now with a long-term perspective. Summary NVIDIA has presented two technical buying opportunities in 2024, with the latest one emerging after a modest breakout above $130. While there is potential for further gains, such as a move toward $150-$170, this is a riskier entry, especially for short-term traders. Investors should consider the current market environment, do their fundamental research, and only buy if they’re prepared to hold for the long term or add to their position in case of a pullback. Regards, Vaido
NASDAQ:NVDALong
by VaidoVeek
NVDA Charting and Overview (Short-Term Short)Hi Traders, Here's my overview of NVDA stock from technical perspective using basic charting and ignoring all the AI frenzy. 1. On 4h time frame I could spot a bigger parallel channel which sits on March 24 highs, Jun 24 highs, August 24 lows (Gap closing). Based on this channel alone, the next target/resistance is ~136 per share area. 2. Also, there is another rising parallel channel which started on the lows of 6th of September. Since then, NASDAQ:NVDA has been printing higher highs until today. This channel upperband is also ~136 area. 3. Finally, if we take a closer look at previous highs where the price pivoted, you can find July 2024 high was the one and was ~136 (136.15 to be precise). This way we have 3 (three) technicals signaling 136 level is a strong resistance and the price might retrace from there at least 4% (down to 130 where another support sits). By the time I am writing this, the price is already in 134 area and I expect it to reach at least 130. Tony.
NASDAQ:NVDAShort
by AATONY
1
Opening (IRA): NVDA Nov 15th 83/98/143/158... for a 2.70 credit. Comments: 30-day IV remains fairly decent here at 48.9%. Going wider than I usually do from a delta standpoint, with the short option legs camped out at the 16 delta, but with the wings at standard width (1/10th the price of the underlying), knowing that I will probably adjust the setup at some point given its duration (56 DTE). Earnings haven't been firmly announced yet, but are likely to occur right around mopex (~11/14), so will look to be out of the trade by then. Metrics: Buying Power Effect: 12.30 Max Profit: 2.70 ROC at Max: 21.95% 50% Max: 1.35 ROC at 50% Max: 10.98% Will generally look to take profit at 50% max; roll in sides to delta balance.
NASDAQ:NVDA
by NaughtyPines
Elliott Wave Expects Nvidia (NVDA) to Extend Impulsive RallyShort Term Elliott Wave View in Nvidia (NVDA) suggests that cycle from 9.6.2024 low is in progress as a 5 waves impulse. Up from 9.6.2024 low, wave (1) ended at 127.67. Dips in wave (2) ended at 114.7 as the 1 hour chart below shows. Internal subdivision of wave (2) unfolded as a zigzag Elliott Wave structure. Down from wave (1), wave A ended at 117.72 and wave B ended at 122.44. Wave C lower ended at 114.7 which completed wave (2) in higher degree. The stock has resumed higher in wave (3). Potential target for wave (3) is 100% - 161.8% Fibonacci extension of wave (1). This area comes at 142.2 - 158.6 area. Up from wave (2), wave 1 ended at 120.83 and wave 2 ended at 116.42. The stock then nested higher with wave ((i)) ended at 124.36 and pullback in wave ((ii)) ended at 121.46. Expect the stock to extend higher to complete wave ((iii)), then it should pullback in wave ((iv)) before it resumes higher again in wave ((v)) of 3. Near term, as far as pivot at 114.7 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
NASDAQ:NVDA
by Elliottwave-Forecast
Gap fill at $69.38 to be completed by 2025Gap to be filled at $69.38 therefore gravity coming soon, then fast and hard...! Weekly negative RSI divergence indicating a long and steady drop in coming. Daily RSI still bullish but at top of weekly and monthly Berlingeri/ Bollinger Bands. Also, note that there are many competing Tech companies with pricing and product that will undercut NVDA within 6 months. 1.75 Trillion will be the valuation at 70$ which would still be high...! It could and probably will go to $50 or approximately 1.1 Trillion in USD valuation...That is the reality we are living in
NASDAQ:NVDAShort
by italtrini
1
#NVIDIA $NVDA The new leader!Nvidia is the world's number one after passing $MSFT. -Valuation soars to $3.34 trillion. Nvidia completed a 10-for-1 stock split on June 7. The chipmaker last month posted yet another blockbuster quarter, noting a 262% increase in revenue and a 462% increase in profits year-over-year. I'm not going to write to much here. The market sentiment is clearly bullish and here are my projections for $NVDA. The chart should speak for itself. Targets zone is shown on the chart. Short term, expect price to consolidate withing the red projection marker based on divergences and anomalies in the relative strength index followed by a continuation of the upwards trend (green projection marker). Targets: (-128),146,160,200 |----Range-----| (alfa) I will take a bullish longer term stand on NASDAQ:NVDA from where we currently sit. Short term, expect a pullback/consolidation at the current level before a possible continuation. (Can add more intraday targets if requested).
NASDAQ:NVDALong
by BaseLineTraders
NVIDIA is Poised to Challenge Its All-Time HighNVIDIA is Poised to Challenge Its All-Time High NVIDIA is approaching its all-time high, which was reached on June 20, 2024, at $140.50. For approximately 110 days, the price has been developing a larger triangle pattern, accumulating bullish momentum. While challenging the all-time high price zone carries some risk, the odds favor a further rise after this period of accumulation. I am looking at possible resistance near the $150 and $170 levels. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
NASDAQ:NVDALong
by KlejdiCuni
NVDA: 3-Month Consolidation Primed for Potential BreakoutResistance Level: $135–140 (key breakout point). Support Level: $100–110 (lower bound of the channel). Bullish Breakout: Watch for a breakout above $140 with increased volume, targeting $160+. Bearish Rejection: Rejection at $140 could lead to a move back to $100, with further downside possible on a break below support. This consolidation suggests that NVDA is preparing for a significant move, and close attention to upcoming price action and volume will be crucial in determining the next trend. Breakout Potential: Bullish Scenario: Breakout Above Resistance: If NVDA breaks above the $140 resistance with high volume, it would signal a bullish breakout. Price Target: After the breakout, the first target would likely be around 160 Confirmation: A daily or weekly close above $140 with sustained volume would add confidence to the breakout. Bearish Scenario: Rejection at Resistance: If NVDA fails to break above $135–140 and shows signs of rejection (long wicks or bearish engulfing patterns), it may retrace toward the lower support level of the channel ($100). Breakdown: A breakdown below $100 would signal further bearish momentum, with potential targets around $85–90. Consolidation Continues: NVDA could also continue to consolidate within this channel for a longer period. In this case, range-bound traders might look to buy near support ($100) and sell near resistance ($140), waiting for clearer signals of a breakout.
NASDAQ:NVDALong
by SinghStrategist