NVIDIA CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 122.00 |
| Take Profit | 139.00 |
| Stop Loss | 119.00 |
| Key Levels | 95.00, 119.00, 125.00, 132.00, 139.00, 140.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 113.50 |
| Take Profit | 96.20 |
| Stop Loss | 117.00 |
| Key Levels | 95.00, 119.00, 125.00, 132.00, 139.00, 140.00 |
Shares of Nvidia Corp., an American giant in the field of video graphics processor development, are trading at 119.00.
On the daily chart, the price is correcting below the resistance line of the downward channel 125.00–95.00.
On the four-hour chart, there is a high probability of continued growth, and the approach of the quotes to the high of 132.00 can significantly accelerate its pace. The only obstacle is the intermediate high of 122.00. Consolidation above will allow the asset to reach 140.00.
Technical indicators are preparing to give a buy signal. Fast EMAs on the Alligator indicator are approaching the signal line, narrowing the EMA oscillation range, and the AO histogram is forming correction bars around the transition level.
Trading tips
Long positions may be opened after the price rises and consolidates above 122.00, with the target at 139.00. Stop loss is 119.00. Implementation period: 7 days or more.
Short positions may be opened after the price falls and consolidates below 113.50, with the target at 96.20. Stop loss is 117.00.
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