NVDA For Tomorrow Trading 10/8/2024
Key Levels:
Resistance: The recent high at 130.63 is a critical resistance level to watch. Breaking this level could lead to further bullish momentum.
Support: There are several support levels on the chart:
The first support is at 128.10, where NVDA is currently hovering.
A lower support zone is at 126.62, and below that, strong support is seen around 123.06 and 122.35.
Trendline:
NVDA is trending upwards, following the white ascending trendlines. As long as it respects this trend, NVDA could continue its upward move.
A break below the lower trendline could signal a reversal, and 126.62 would be the key level to watch for downside potential.
Volume:
The recent increase in price has been accompanied by higher volume, which is a positive sign of bullish momentum. However, volume appears to be tapering off slightly, which could suggest potential consolidation or a pullback.
Indicators:
While not visible, based on the price action and consolidation around 128.10, the current momentum may slow down if it fails to break through resistance.
Plan for Tomorrow:
Bullish Scenario: If NVDA holds above 128.10 and breaks through 130.63, expect a continued move upwards, potentially testing higher resistance levels around 132.50-135.00.
Bearish Scenario: A break below 126.62 could signal a deeper pullback toward 123.06, with the next support at 114.84.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any trading decisions.
Resistance: The recent high at 130.63 is a critical resistance level to watch. Breaking this level could lead to further bullish momentum.
Support: There are several support levels on the chart:
The first support is at 128.10, where NVDA is currently hovering.
A lower support zone is at 126.62, and below that, strong support is seen around 123.06 and 122.35.
Trendline:
NVDA is trending upwards, following the white ascending trendlines. As long as it respects this trend, NVDA could continue its upward move.
A break below the lower trendline could signal a reversal, and 126.62 would be the key level to watch for downside potential.
Volume:
The recent increase in price has been accompanied by higher volume, which is a positive sign of bullish momentum. However, volume appears to be tapering off slightly, which could suggest potential consolidation or a pullback.
Indicators:
While not visible, based on the price action and consolidation around 128.10, the current momentum may slow down if it fails to break through resistance.
Plan for Tomorrow:
Bullish Scenario: If NVDA holds above 128.10 and breaks through 130.63, expect a continued move upwards, potentially testing higher resistance levels around 132.50-135.00.
Bearish Scenario: A break below 126.62 could signal a deeper pullback toward 123.06, with the next support at 114.84.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any trading decisions.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.