NVDA: Key Support/Resistance levels to PAY ATTENTION! [UPDATED]
• NVDA did exactly as we expected since my previous analysis on it, as it lost our dual support level, and it hit our target at $150 (the link to my previous post is below this analysis, as usual);
• Now, NVDA is in bearish territory, as it did a lower high/low, and it is trading below the 21 ema;
• In order to reverse this bearish sentiment, NVDA must do a clear bullish structure, preferable above our support at $150. So far, there’s no clear bullish reaction;
• If it doesn’t react, and loses the $150, the next technical support would be the 61.8% Fibonacci’s Retracement in the weekly chart;
• Speaking of weekly chart, there’s a key trend line connecting NVDA’s previous top levels (purple line), and NVDA has to break it in order to trigger a long-term bullish reversal structure;
• Let’s see if it’ll react above one of its key support levels. I’ll keep you updated.
Remember to follow me to keep in touch with my daily analyses!
• Now, NVDA is in bearish territory, as it did a lower high/low, and it is trading below the 21 ema;
• In order to reverse this bearish sentiment, NVDA must do a clear bullish structure, preferable above our support at $150. So far, there’s no clear bullish reaction;
• If it doesn’t react, and loses the $150, the next technical support would be the 61.8% Fibonacci’s Retracement in the weekly chart;
• Speaking of weekly chart, there’s a key trend line connecting NVDA’s previous top levels (purple line), and NVDA has to break it in order to trigger a long-term bullish reversal structure;
• Let’s see if it’ll react above one of its key support levels. I’ll keep you updated.
Remember to follow me to keep in touch with my daily analyses!
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