NVDA: Bullish Above $141.17, Bearish Below $136.75

3 Des 2024

After a thorough analysis, I've observed that NVIDIA Corporation (NVDA) closed at $138.64 in the latest trading session. The stock moved sideways during the second half of the day, suggesting consolidation and a potential setup for a significant price movement.

Key Levels to Watch

• Strong Support: $136.75 (indicated by a white dotted line on the chart)
  
• Immediate Resistance: $141.17
  
• Upper Target: $149.28
  
• Lower Targets: $135.08, $133.05
  

Bullish Scenario :-

• Holding Above $136.75:
  
• Remaining above this strong support indicates a possible swing bullish trend.
  
• Break Above $141.17:
  
• Surpassing this resistance could open the path toward the upper target of $149.28.
  
• Consider long positions if the price sustains above $136.75 and especially if it breaks above $141.17.
  
• Stop-Loss: Set below $136.75 to manage risk.
  
• Take-Profit Levels: First at $141.17, then at $149.28.
  

Bearish Scenario :-

• Break Below $136.75:
  
• A decisive drop below this support within the next 1-2 days could signal a bearish opportunity.
  
• Downside Targets:
  
• Initial target at $135.08.
  
• Potential further decline toward $133.05.
  
• Consider short positions if the price falls below $136.75.
  
• Stop-Loss: Set above $136.75 to limit potential losses.
  
• Take-Profit Levels: First at $135.08, then at $133.05.
  

NVDA is at a pivotal point. The stock's ability to stay above or below the key support and resistance levels will likely determine its next direction. Traders should keep a close eye on these levels and exercise proper risk management due to potential volatility.

4 Des 2024

Catatan

The stock is currently showing strong bullish momentum, with key support at $136.75, highlighted by a white dotted line on the chart. A breakout is being awaited, and as a result, the resistance level has been adjusted to $138.11.

If the breakout occurs, the potential target for the stock could be $144, with further upside potential extending to the $147.50 levels. This movement suggests a strong bullish trend, so keep an eye on the resistance level and the breakout for confirmation.

However, if the stock falls below $138.11, it could signal a downside for the week, with potential targets at $135.60 and $132.78.

4 Des 2024

Catatan

First target achieved crossing $141.17, then at $149.28. Most likely this will required 2-3 trading days.