NVDA Ninja Strikes Again: Back in Action at $1179.88, Ready to Slay the Market!
BULLISH
I’ve been keeping an eye on NVIDIA ($NVDA) as always, and I thought I’d share my insights and predictions for its future movements.
Current Price and Key Levels:
- NVDA is trading at $1182.66.
- Key resistance levels to watch: $1180, $1223, and $1293
- Potential target: $1407
- Support levels: $1058 and $1065
Technical Analysis:
After checking my trusty platforms like TradingView, Investing.com etc, here’s the scoop on NVDA’s technical indicators:
1. MACD (Moving Average Convergence Divergence):
- The MACD line is above the signal line, signaling bullish momentum. This suggests it might be a good time to buy.
2. RSI (Relative Strength Index):
- The RSI is neutral, around 50. This means the stock isn’t overbought or oversold, so there's no extreme pressure in either direction.
3. Bollinger Bands:
- The price is touching the upper Bollinger Band, indicating high volatility. This could either mean an upcoming pullback or a strong continuation of the current trend if the price breaks above the band.
4. Stochastic Oscillator:
- The Stochastic Oscillator shows NVDA is in overbought territory, suggesting a potential short-term pullback might be on the horizon.
5. Chaikin Money Flow (CMF):
- The CMF is positive, indicating buying pressure, which supports the bullish trend.
My Prediction:
Given the bullish signals from the MACD and the buying pressure indicated by the CMF, I’m optimistic about NVDA’s short-term potential. However, the overbought signals from the Stochastic Oscillator and the price touching the upper Bollinger Band suggest we should be cautious about a possible pullback.
If NVDA can break through the $1223 and $1293 resistance levels, I believe it has a strong potential to reach around $1405. On the flip side, if it dips below the $1058 and $1065 support levels, it might signal a downturn.
Overall, I’m bullish on NVDA but will keep a close watch on these key levels and indicators to navigate my trading strategy effectively.
Happy trading, and let’s see how it goes!
BC
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- quixi·06-06TOPNice analysis and predictions! Let's see if NVDA can slay the market! [Great]1Report
- OswaldFinger·06-06Great analysis1Report