To The Moon

Earlier, I highlighted a bearish view on $NVIDIA(NVDA)$ in this analysis here, noting:

Repost chart posted in the earlier analysis

• The 21-day SMA crossed below the 55-day SMA, signaling weakness.

• Price followed a downtrend, forming lower highs and lower lows.

• Selling pressure increased, with drops occurring on higher volume.

• Resistance was around $145-$150, while key support was at $110-$115.

• Reposting my chart earlier; the identified support has been reached. Did you get the trade?

Current Analysis

• Uptrend still intact: The price is moving within an upslope channel, suggesting long-term bullish structure remains.

• Key support at $103-$105: Price has pulled back towards this level, which aligns with both the channel's lower boundary and a potential rebound zone.

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Using DLCs for Short-Term Trading

• If support holds (103-105): Traders watching for a bounce could look at long DLCs ( $NVDA 3xLongSG261006(NVIW.SI)$ ) for a potential recovery towards mid-channel levels.

• If breakdown happens: A move below support may open downside towards psychological levels (e.g., 100), where short DLCs ( $NVDA 3xShortSG261006(NVDW.SI)$ could be used for short-term trades.

• Resistance levels: If price rebounds, upside targets could be $120-$125, offering levels to consider adjusting positions.

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