NVDA: TA for tomorrow trading (10/07/2024)
Key Levels:
Resistance Zones:
127.66: This appears to be a significant resistance level based on past price action. The price is currently approaching this level, and it might act as a barrier for further upward movement.
125.17: Another key level where selling pressure could appear, based on previous consolidation and rejections.
Support Zones:
122.85 - 122.45: These zones are crucial as they represent the immediate support level, where buyers previously stepped in. It’s important to see if the price holds here in case of a pullback.
114.70: This is a major support zone, and a break below this could signal further downside potential.
Price Action:
There’s an upward trend forming from the low around 114.70 to the current price, indicating bullish momentum. However, the upward channel shows the price nearing a resistance point, which might cause consolidation or a pullback.
The recent breakout from a descending trendline suggests a potential continuation of the uptrend, but the price approaching 127.66 might see some rejection unless there’s strong buying volume.
Volume Analysis:
The volume spikes on upward movements indicate buyer interest, but recent candles show a bit of hesitation as the price nears resistance levels. Watch for a volume increase if it attempts to break through the 127.66 level for confirmation of bullish momentum.
Indicators:
The chart shows oscillating movement near the zero line, indicating a possible indecisive market. Watch for a clearer direction from the oscillators in the next session for a stronger signal.
Strategy for Tomorrow:
Bullish Scenario: If NVDA breaks above 127.66 with strong volume, this could be a signal for a continuation of the uptrend, with a potential target of around 130 or higher.
Bearish Scenario: If NVDA fails to break the 127.66 resistance, look for a pullback to the 122.85 - 122.45 support zone. A break below this support may indicate further downside, possibly testing the 114.70 support again.
Entry/Exit Points:
Bullish Entry: On a confirmed breakout above 127.66, enter long with a stop-loss slightly below 125.17. Look for targets around 130.
Bearish Entry: If price gets rejected at 127.66, a short position could be considered with a target around 122.85. Place a stop-loss above 127.66 to manage risk.
Resistance Zones:
127.66: This appears to be a significant resistance level based on past price action. The price is currently approaching this level, and it might act as a barrier for further upward movement.
125.17: Another key level where selling pressure could appear, based on previous consolidation and rejections.
Support Zones:
122.85 - 122.45: These zones are crucial as they represent the immediate support level, where buyers previously stepped in. It’s important to see if the price holds here in case of a pullback.
114.70: This is a major support zone, and a break below this could signal further downside potential.
Price Action:
There’s an upward trend forming from the low around 114.70 to the current price, indicating bullish momentum. However, the upward channel shows the price nearing a resistance point, which might cause consolidation or a pullback.
The recent breakout from a descending trendline suggests a potential continuation of the uptrend, but the price approaching 127.66 might see some rejection unless there’s strong buying volume.
Volume Analysis:
The volume spikes on upward movements indicate buyer interest, but recent candles show a bit of hesitation as the price nears resistance levels. Watch for a volume increase if it attempts to break through the 127.66 level for confirmation of bullish momentum.
Indicators:
The chart shows oscillating movement near the zero line, indicating a possible indecisive market. Watch for a clearer direction from the oscillators in the next session for a stronger signal.
Strategy for Tomorrow:
Bullish Scenario: If NVDA breaks above 127.66 with strong volume, this could be a signal for a continuation of the uptrend, with a potential target of around 130 or higher.
Bearish Scenario: If NVDA fails to break the 127.66 resistance, look for a pullback to the 122.85 - 122.45 support zone. A break below this support may indicate further downside, possibly testing the 114.70 support again.
Entry/Exit Points:
Bullish Entry: On a confirmed breakout above 127.66, enter long with a stop-loss slightly below 125.17. Look for targets around 130.
Bearish Entry: If price gets rejected at 127.66, a short position could be considered with a target around 122.85. Place a stop-loss above 127.66 to manage risk.
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.