NVDA at Critical Reversal Zone! Decisive Moves Ahead? Here's the latest detailed breakdown of NVDA on the 1-hour timeframe, emphasizing key reversal zones detected.
📈 Technical Analysis (TA):
* NVDA currently consolidating at around $121, showing signs of indecision at this upper reversal (green) zone, indicating potential profit-taking or reversal.
* Clear bullish structure with a recent Break of Structure (BOS) above $120, but momentum is fading slightly as shown by MACD trending lower.
* Critical bullish reversal support zone (red) detected clearly at $115-$116. A retest of this area could offer a potential entry for longs if buyers step in.
* If price loses momentum at the current resistance area ($121), watch for a retracement to test key support at the identified lower red reversal zone.
📊 GEX & Options Insights:
* Strongest gamma wall and highest positive NET GEX located significantly higher at $130. This remains a key upside target if bullish momentum resumes strongly.
* Immediate resistance at the 2nd call wall at $122 is currently acting as overhead pressure. Further bullish continuation requires a clear breakout above this level.
* Notable PUT support established at the $110 level, providing substantial downside protection if NVDA retraces sharply.
* IV Rank notably low at 11.2%, indicating low premium and relatively low volatility environment, favorable for strategic debit spread setups or long calls/puts based on directional bias.
💡 Trade Recommendations:
* Bullish Scenario: Consider long positions if NVDA holds above $120.50–$121 zone with a breakout confirmation targeting $124 initially, then $130.
* Bearish Scenario: Short-term put options could be favorable if rejection is confirmed at the current green reversal resistance around $121, targeting the red reversal support area around $116.
* Neutral Strategy: Potential for iron condor setups between clearly defined ranges ($115–$125), capitalizing on low IV environment.
🛑 Risk Management: Keep stops tight around recent highs or lows depending on directional bias. Watch volume and MACD closely for confirmation.
Trade carefully and stay alert!
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
