NVDA bullish with MACD line crossing above the signal line.

4-Hour Chart Analysis

Trend Lines and Channels:

The chart shows a significant uptrend channel, indicated by the parallel lines. NVDA has recently tested the lower boundary of this channel and bounced back.
This bounce suggests potential strength and a continuation of the upward trend.
Support and Resistance Levels:

Support Levels:
Current Support: $116.67
Secondary Support: $91.69
Resistance Levels:
Immediate Resistance: $127.24
Secondary Resistance: $141.00 - $140.98
Volume Profile:

The volume profile indicates a high volume area around $127.24. This level acts as a significant resistance, where a lot of trading activity has occurred, potentially creating a hurdle for upward movement.
Moving Averages:

The chart shows the use of moving averages (typically 50-period and 200-period). The price is near these moving averages, which could act as dynamic support or resistance.
MACD (Moving Average Convergence Divergence):

The MACD is currently showing a bullish crossover, with the MACD line crossing above the signal line. This suggests bullish momentum is building up.
Trading Strategy Suggestion

Bullish Case:

If NVDA breaks above the immediate resistance at $127.24 with strong volume, it can be a good entry point for a long position.
Set a stop-loss below the recent swing low, around $116.67, to manage risk.
Target the next resistance level at $141.00 - $140.98.
Bearish Case:

If NVDA fails to break above $127.24 and starts showing weakness, consider a short position.
Set a stop-loss above the immediate resistance at $127.24.
Target the support level at $116.67, and if the price breaks below this, the next target could be $91.69.
Neutral Case:

If NVDA stays between $116.67 and $127.24, it may be best to wait for a clear breakout or breakdown before entering a trade.
Conclusion
NVDA shows potential bullish momentum with a recent bounce from the lower boundary of its uptrend channel. However, it faces significant resistance at $127.24. Monitoring the price action around this level will be crucial for determining the next move. Always use proper risk management strategies when entering trades.