NVDA Approaching Key Levels: Trade Setup and Analysis for Nov.15Trading Plan and Technical Analysis for NVDA
Overview
NVIDIA Corporation (NVDA) has shown a mix of bullish and bearish signals recently, with price action hovering near important support and resistance levels. Here’s a breakdown of the setup, including supply and demand zones, order blocks, and suggested entries and exits for both scalping and swing trading.
Key Levels
Support Zones:
$144.77: Immediate support level. If NVDA holds above this, it may provide a base for potential upward movement.
$143.35: A critical support level. A break below this could signal further downside momentum.
Resistance Zones:
$146.32 - $146.50: This range is acting as near-term resistance. A breakout above this area with strong volume could lead to further upside.
$149.61 - $149.95: This is a significant resistance zone near recent highs. It would be the next target if NVDA manages to hold above $146.50.
Price Action & Supply/Demand Zones
Demand Zone: Between $143.35 and $144.77, where NVDA has previously shown buying interest. If the price revisits this area, look for a potential bounce, especially if volume confirms support.
Supply Zone: The area around $146.32 - $146.50 may encounter selling pressure, as NVDA has struggled to break above this level recently.
Order Blocks & Market Structure
Bullish Order Block: Near $144.77, where buyers have previously stepped in to defend support. Watch for a bounce from this level if NVDA revisits it with buying interest.
Bearish Order Block: Around $146.32 - $146.50, where sellers have been active. A breakout above this zone could indicate a short-term reversal to the upside.
Entry & Exit Suggestions
Scalping Entry: Look to enter around $144.77 on a bounce, targeting quick exits near $146. Set a tight stop below $144 to manage risk.
Swing Trade Entry: Consider entering near $143.35 if NVDA shows signs of support here, with a potential upside target toward $149.61. A stop-loss below $143 is recommended to protect against further downside.
Directional Outlook
Bullish Scenario: If NVDA holds above $144.77 and breaks through $146.50, we could see a push toward the upper resistance zone around $149.61.
Bearish Scenario: A break below $144.77 may lead to testing the key support at $143.35. If this fails, there could be more downside momentum.
Thoughts and Suggestions
For scalpers, the immediate range between $144.77 and $146 provides quick trade opportunities.
Swing traders should watch for a confirmation above or below these levels before committing to a direction. Volume and price action will be critical indicators for the next move.
Disclaimer
This analysis is for informational purposes only and should not be considered financial advice. Always do your own research and consult with a financial advisor before making trading decisions.
