NVDA: Trading in a CRITICAL support level (again)!
• In our previous analysis, we nailed the bottom on NVDA, and it went up about 16%, until it gave us a top sign on Dec 13 – the link to our previous analysis on NVDA is below this post, as usual;
• Now, we must update our key points;
• First, there’s a new support area on NVDA, around the purple line + 21 ema. The trend is still bullish, as long as it stays above this dual-support level;
• Any bullish reaction above this dual-support level would be an opportunity to buy. So far, there’s no meaningful bottom sign;
• What if it loses the dual-support level? Then the next support is at $155, the second support is at $150. So far, there’s no evidence pointing to a downwards breakout as well;
• Therefore, it is time to wait, for either a clear bullish reaction, or a possible breakout of this dual-support. I’ll keep you posted on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
• Now, we must update our key points;
• First, there’s a new support area on NVDA, around the purple line + 21 ema. The trend is still bullish, as long as it stays above this dual-support level;
• Any bullish reaction above this dual-support level would be an opportunity to buy. So far, there’s no meaningful bottom sign;
• What if it loses the dual-support level? Then the next support is at $155, the second support is at $150. So far, there’s no evidence pointing to a downwards breakout as well;
• Therefore, it is time to wait, for either a clear bullish reaction, or a possible breakout of this dual-support. I’ll keep you posted on this, as usual.
Remember to follow me to keep in touch with my daily analyses!
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