To The Moon

While other M7 stocks like $Tesla Motors(TSLA)$ and $Meta Platforms, Inc.(META)$ made new highs, $NVIDIA(NVDA)$ failed to trade higher.

I’m going to do a technical piece on the stock and present it with key levels.

NVDA Daily chart

Technical Analysis of NVIDIA (Daily Chart):

• Head and Shoulders Pattern: A potential bearish head and shoulders pattern is forming, signaling a trend reversal if confirmed.

• Neckline Support at 131: The critical support lies at $131. A decisive breakdown below this level could trigger further downside.

• Projected Support at 120: The uptrend line aligns with a key support at $120. This area could act as the next target if the breakdown occurs.

• Resistance at 140: The $140 level remains a significant resistance zone.

Possible scenarios:

• Bearish if the price breaks below the $131 neckline, with $120 as the next downside target.

• Bullish Rebound only if the $131 level holds and buyers regain control above $140.

Investors can adopt appropriate strategies based on different scenarios that align with their directional outlook.

Short-term trading with DLCs

NVDA DLCs

Investors with a bearish outlook can consider Daily Short DLCs, while those with a bullish outlook can consider Daily Long DLCs.

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This document is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document has been published for general circulation only. 

This advertisement has not been reviewed by the Monetary Authority of Singapore. This post is sponsored by Societe Generale, Singapore Branch. The content of this article does not form part of any offer or invitation to buy or sell any daily leverage certificates (the “DLCs”), and nothing herein should be considered as financial advice or recommendation. The price may rise and fall in value rapidly and holders may lose all of their investment. Any past performance is not indicative of future performance. Investments in DLCs carry significant risks, please see dlc.socgen.com for further information and relevant risks. The DLCs are for specified investment products (SIP) qualified investors only.