NVIDIA CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Time period | Weekly |
| Recommendation | SELL STOP |
| Entry point | 117.50 |
| Take Profit | 102.00 |
| Stop Loss | 121.00 |
| Key level | 102.00, 108.00, 117.00, 123.00, 125.00, 125.80, 131.00, 135.40 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry point | 125.80 |
| Take Profit | 135.40 |
| Stop Loss | 120.00 |
| Key level | 102.00, 108.00, 117.00, 123.00, 125.00, 125.80, 131.00, 135.40 |
Shares of Nvidia Corp., the American giant in the field of graphic video processor development, were trading at 123.00.
On the daily chart, the price is corrected, approaching the descending channel support line at 131.00–108.00.
On the four-hour chart, the price was unable to cover the recent price gap of 125.00–121.00. After breaking last week's low of 117.00, the price may reach the 100.00 level.
Technical indicators give a sell signal: the fast EMA on the Alligator indicator crosses the signal line downwards, and the AO histogram forms a new correction bar below the transition level.
Trading tips
Short positions can be opened after the price falls and consolidates below 117.50, with a target at 102.00. Stop loss is at 121.00. Implementation period: 7 days or more.
Long positions can be opened after the price grows and consolidates above 125.80, with the target at 135.40. Stop loss at 120.00.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.