NVDA: Pay attention to these PRICE LEVELS!
Hello traders and investors! Let’s see how NVDA is doing today!
First, in the 1h chart, NVDA is still in a clear bull trend, and there’s not a single bearish structure around. In this case, all we can do is assume it’ll keep pushing up, until it hits the next resistance level, which we’ll talk about soon.
However, the most important key point on NVDA is the green line at $ 272. This point worked as a support and resistance in the past, and it won’t be easy for NVDA to lose it. However, if it does, we’ll probably see a correction in the daily chart.
A correction here shouldn’t be scary at all, for many technical reasons.
It is important to say that since NVDA broke the purple line, and started doing higher highs/lows, it is in a bull trend. Any correction in a bull trend is just an opportunity to buy at a cheaper price. What’s more, pullbacks are natural and expected movements, and as long as we don’t see a clear reversal pattern around, there’s no reason to panic when it drops.
As far as I know, NVDA could drop all the way down to the 21 ema again (now at $ 259 and rising), and this wouldn’t ruin the bullish bias. The next resistance is at $ 307, and regardless if we see a pullback or not, this is a nice target to work with right now.
Only a bearish reversal structure would change my mind, and so far, there’s none. I’ll keep you guys updated on this, so remember to follow me to not miss any of my analyses!
First, in the 1h chart, NVDA is still in a clear bull trend, and there’s not a single bearish structure around. In this case, all we can do is assume it’ll keep pushing up, until it hits the next resistance level, which we’ll talk about soon.
However, the most important key point on NVDA is the green line at $ 272. This point worked as a support and resistance in the past, and it won’t be easy for NVDA to lose it. However, if it does, we’ll probably see a correction in the daily chart.
A correction here shouldn’t be scary at all, for many technical reasons.
It is important to say that since NVDA broke the purple line, and started doing higher highs/lows, it is in a bull trend. Any correction in a bull trend is just an opportunity to buy at a cheaper price. What’s more, pullbacks are natural and expected movements, and as long as we don’t see a clear reversal pattern around, there’s no reason to panic when it drops.
As far as I know, NVDA could drop all the way down to the 21 ema again (now at $ 259 and rising), and this wouldn’t ruin the bullish bias. The next resistance is at $ 307, and regardless if we see a pullback or not, this is a nice target to work with right now.
Only a bearish reversal structure would change my mind, and so far, there’s none. I’ll keep you guys updated on this, so remember to follow me to not miss any of my analyses!
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