NVDA (Nvidia) Technical Analysis for October 3, 2024:
The Nvidia shows a corrective pullback that now seems to be attempting a rebound.
Key Levels:
Resistance:
$122.40 - A critical resistance level; Nvidia could see heavy selling here if it continues the upward movement.
$127.66 - A higher resistance, less likely to be tested unless the stock clears the previous key level at $122.40.
Support:
$117 - First line of support; previously tested.
$114.76 - Key structural support; breakdown here could open room for a deeper correction.
Price Action & Setup:
Nvidia has formed a descending wedge pattern, often indicative of a potential breakout.
Recent price action suggests Nvidia is testing resistance near $120.60, and a failure to break higher could result in a pullback to test lower levels around $117 or even $114.
Entry/Exit:
Entry: Potential short opportunity if the price fails to break $122.40. Alternatively, a break above $122.40 with momentum could offer a long setup, aiming for $127.60.
Exit: For shorts, target levels around $117 and $114. Long positions could take profit around $122-$127.
Key Levels:
Resistance:
$122.40 - A critical resistance level; Nvidia could see heavy selling here if it continues the upward movement.
$127.66 - A higher resistance, less likely to be tested unless the stock clears the previous key level at $122.40.
Support:
$117 - First line of support; previously tested.
$114.76 - Key structural support; breakdown here could open room for a deeper correction.
Price Action & Setup:
Nvidia has formed a descending wedge pattern, often indicative of a potential breakout.
Recent price action suggests Nvidia is testing resistance near $120.60, and a failure to break higher could result in a pullback to test lower levels around $117 or even $114.
Entry/Exit:
Entry: Potential short opportunity if the price fails to break $122.40. Alternatively, a break above $122.40 with momentum could offer a long setup, aiming for $127.60.
Exit: For shorts, target levels around $117 and $114. Long positions could take profit around $122-$127.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.