NVIDIA CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 131.30 |
| Take Profit | 149.00 |
| Stop Loss | 122.00 |
| Key Levels | 83.00, 106.60, 122.00, 123.60, 127.00, 130.00, 131.30, 149.00, 200.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 123.60 |
| Take Profit | 106.60 |
| Stop Loss | 130.00 |
| Key Levels | 83.00, 106.60, 122.00, 123.60, 127.00, 130.00, 131.30, 149.00, 200.00 |
The quotes of Nvidia Corp., an American developer of video graphics processors, are trading in a correction trend at 127.00.
On the daily chart, the price consolidates significantly above the resistance line of the downward channel with boundaries of 115.00–83.00.
On the four-hour chart, the prospects for strengthening the positive dynamics are quite high, and approaching the high of 133.00 can significantly accelerate its pace. The only obstacle is the year’s high of 137.00, consolidation above which will become a catalyst for reaching the target of 200.00.
Technical indicators are holding the buy signal: fast EMA on the Alligator indicator are moving away from the signal line, leaving the oscillation range stably wide, and the histogram of the AO oscillator is forming new correction bars, consolidation significantly above the transition level.
Trading tips
Long positions may be opened after the price consolidates above the resistance level of 131.30, with the target at 149.00. Stop loss — 122.00. Implementation period: 7 days or more.
Short positions may be opened after the price consolidates below the support level of 123.60, with the target at 106.60. Stop loss — 130.00.
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