NVDA: Bullish thesis with 40% upside potential (complete MTFA)!
Hello traders and investors! Let’s see how NVDA is doing today! To me, NVDA is one of the stocks with the highest potential, if everything works out, of course. Let’s do a complete Multiple Time Frame Analysis (MTFA) on it today.
First, in the 1h chart, it finally broke the $ 168 area (black line), which was a support and resistance multiple times in the past. By breaking this line, and by leaving the 21 ema behind, NVDA triggers a short-term reversal, at least to the $ 182, which is the single most important key point on NVDA to me.
Let’s see the daily chart now:
The trend didn’t reverse here yet, but given how the 1h chart looks, it could reverse soon. First, we would need to break the 21 ema, and second and most important, the $ 182 area.
By breaking the $ 182, NVDA will trigger a Double Bottom chart pattern, a bullish reversal chart pattern in the daily chart. What’s more, the $ 182 was a support level in April. And it is working as a resistance for NVDA right now in May. The fact the polarity changed at this price level indicates that it is an important key point, indeed.
If NVDA triggers this pattern, it has an immediate target at $ 204, but I see NVDA filling the last two gaps in the long-term. Meaning, it could hit the $ 258 in the next few months – roughly 40% upside. This is why NVDA is one of the most promising stocks I see around. So far, NVDA always filled the gaps that appeared above the price (when it gaps down), so historically/statistically speaking, you could build a bullish thesis on this fact alone, with a high probability of success - however, only TA can help us with our timing.
In the weekly chart, this reaction is occurring at a very interesting support level, which is April 2021 top. This could confirm a bottom for NVDA in the long-term, which reinforces our bullish thesis.
This reaction on NVDA looks great, and we see a confluence on multiple time frames indicating a possible reversal. For now, let’s just pay attention to the $ 182 area, as this is the key point for us. I’ll keep you guys updated on this, so, remember to follow me to keep in touch with my future analyses!
* This is my personal view, based on technical analysis, price action, statistical analysis and historical data. Not investment advice.
First, in the 1h chart, it finally broke the $ 168 area (black line), which was a support and resistance multiple times in the past. By breaking this line, and by leaving the 21 ema behind, NVDA triggers a short-term reversal, at least to the $ 182, which is the single most important key point on NVDA to me.
Let’s see the daily chart now:
The trend didn’t reverse here yet, but given how the 1h chart looks, it could reverse soon. First, we would need to break the 21 ema, and second and most important, the $ 182 area.
By breaking the $ 182, NVDA will trigger a Double Bottom chart pattern, a bullish reversal chart pattern in the daily chart. What’s more, the $ 182 was a support level in April. And it is working as a resistance for NVDA right now in May. The fact the polarity changed at this price level indicates that it is an important key point, indeed.
If NVDA triggers this pattern, it has an immediate target at $ 204, but I see NVDA filling the last two gaps in the long-term. Meaning, it could hit the $ 258 in the next few months – roughly 40% upside. This is why NVDA is one of the most promising stocks I see around. So far, NVDA always filled the gaps that appeared above the price (when it gaps down), so historically/statistically speaking, you could build a bullish thesis on this fact alone, with a high probability of success - however, only TA can help us with our timing.
In the weekly chart, this reaction is occurring at a very interesting support level, which is April 2021 top. This could confirm a bottom for NVDA in the long-term, which reinforces our bullish thesis.
This reaction on NVDA looks great, and we see a confluence on multiple time frames indicating a possible reversal. For now, let’s just pay attention to the $ 182 area, as this is the key point for us. I’ll keep you guys updated on this, so, remember to follow me to keep in touch with my future analyses!
* This is my personal view, based on technical analysis, price action, statistical analysis and historical data. Not investment advice.
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