NVDA Stock Update: Downtrend Alert!

📉 NVDA Stock Update: Downtrend Alert! 🚨
Attention traders!

As we analyze the current market structure for NVIDIA (NVDA), it's crucial to note the recent developments on the daily chart.

Key Observations:
Market Behavior Since December 20, 2024: NVDA has been in a ranging market, characterized by significant volatility.
Bearish Signal: We witnessed a huge bearish engulfing pattern, indicating strong selling pressure. This is a critical signal for traders to consider.
Break of Key Level: The recent higher high can now be defined as a Lower High (LH) as the base of the order block at $129.60 has been broken.
Expected Support Levels:
As we move forward, we anticipate the following support levels:

$124.94
$120.33
$115.78
We are particularly focused on potential accumulation within this Demand Zone. It's essential to stay vigilant and adapt your strategies accordingly!

Happy trading, and stay safe! 📊💼