Nathan_Black

NVDA: Pullback in a Bull Trend = Opportunity? Let's see.

NASDAQ:NVDA   NVIDIA
• NVDA is still incredibly bullish, as it is still doing higher highs/lows and it even broke the resistance we mentioned a few weeks ago (link to my previous analysis below this post);
• However, in the past few days NVDA is doing a pullback, which doesn’t mean bearish reversal, but it is showing weakness and it is supposed to retest its support levels;
• The first support is seen in the daily chart, the red line at $149, along with the 21 ema, making this a dual-support area;
• If NVDA loses the dual-support area in the daily chart, then the next stop is the $141, the black line in the daily chart;
• Since the trend is still bullish, any bullish reaction above any of these key support areas might be just an opportunity to buy - there's no bullish sign confirmed yet;
• So far, there’s no bearish reversal structure on it as well. Let's pay attention to the key points mentioned in this analysis. I’ll keep you guys posted on this.

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