NVDA Analysis: Rebound or Breakdown! Nov.6, 2024
Price Action & Key Levels:
Support Levels:
Immediate support around $135 (current bid/ask zone), aligning with recent consolidation. A breakdown here could indicate further bearish sentiment.
Strong support around $132.12 and $130.26. If NVDA tests these levels, it may present a potential buying opportunity if accompanied by strong bullish volume.
Resistance Levels:
Closest resistance at $139.86, which has been tested multiple times without breaking through. This level represents the first bullish target if NVDA gains upward momentum.
Above that, $142.26 and $144.13 are further resistance zones. Breaking these levels may signal a stronger bullish move, especially if accompanied by a volume surge.
Trend Analysis:
NVDA is currently in a short-term downtrend, with a descending trendline resistance. The MACD is bearish, reflecting selling pressure.
Watch for a potential reversal if MACD begins to converge or cross bullishly, especially near strong support levels.
Entry/Exit Suggestions:
Bullish Entry: Consider entering around $135 with a tight stop if there is a strong rejection or bullish confirmation. Initial targets could be $139.86 and $142.26.
Bearish Entry: If NVDA breaks $135 with high volume, consider a short position targeting $132.12 and potentially $130.26.
Exit Strategy: For long positions, take profits at resistance levels and keep stops tight due to the current bearish momentum. For shorts, exit near support levels to secure gains.
Disclaimer: This analysis is for educational purposes only and is not financial advice. Please conduct your own research and risk management.
Support Levels:
Immediate support around $135 (current bid/ask zone), aligning with recent consolidation. A breakdown here could indicate further bearish sentiment.
Strong support around $132.12 and $130.26. If NVDA tests these levels, it may present a potential buying opportunity if accompanied by strong bullish volume.
Resistance Levels:
Closest resistance at $139.86, which has been tested multiple times without breaking through. This level represents the first bullish target if NVDA gains upward momentum.
Above that, $142.26 and $144.13 are further resistance zones. Breaking these levels may signal a stronger bullish move, especially if accompanied by a volume surge.
Trend Analysis:
NVDA is currently in a short-term downtrend, with a descending trendline resistance. The MACD is bearish, reflecting selling pressure.
Watch for a potential reversal if MACD begins to converge or cross bullishly, especially near strong support levels.
Entry/Exit Suggestions:
Bullish Entry: Consider entering around $135 with a tight stop if there is a strong rejection or bullish confirmation. Initial targets could be $139.86 and $142.26.
Bearish Entry: If NVDA breaks $135 with high volume, consider a short position targeting $132.12 and potentially $130.26.
Exit Strategy: For long positions, take profits at resistance levels and keep stops tight due to the current bearish momentum. For shorts, exit near support levels to secure gains.
Disclaimer: This analysis is for educational purposes only and is not financial advice. Please conduct your own research and risk management.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.