Strategic Buy Levels for Bullish ContinuationHello traders,
Here’s my technical analysis for NVIDIA (NVDA). The stock is currently positioned near critical levels, offering opportunities for a strategic long-term bullish play.
Key Levels and Observations:
First Buy Level: $130
The first area of interest lies at $130, aligning with the previous price structure. This could act as an initial support zone for a potential bounce.
Second Buy Level: $115
A stronger demand zone at $115, supported by historical reactions and aligning with imbalance zones, offering a better risk-to-reward entry point.
Third Buy Level: $100
This level provides the strongest long-term buying opportunity, with significant support from imbalances and historical confluence.
Imbalances and Gaps:
Two key gaps ($135-$140 and $115-$120) suggest price retracement zones that align with potential areas of resistance and accumulation.
Major imbalance zones between $100 and $115 could be critical areas for institutional accumulation before the next move higher.
Strategy:
Entry:
Ladder entries at $130, $115, and $100 based on price confirmation signals (e.g., candlestick patterns, volume spikes).
Targets:
First Target: $150 (previous resistance and gap fill).
Second Target: $165 (continuation into new highs).
Stop Loss: Below $90 to minimize risk.
Supporting Indicators:
RSI: The current RSI level (~51) suggests that momentum is neutral, leaving room for further downside to create oversold conditions before reversing upward.
Volume: Steady volume with spikes near key levels indicates market interest, supporting the possibility of a strong bounce at the marked levels.
Long-Term Outlook:
While NVIDIA has experienced a correction from its highs, the overall market structure remains bullish. With the growing demand for AI and GPUs, NVDA holds strong fundamental and technical potential for long-term gains. Accumulating at the key levels ($130, $115, $100) offers an excellent opportunity for positioning ahead of the next bullish wave.
What do you think of this setup? Drop your thoughts and feedback below! Let’s discuss and trade wisely 🚀
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