Trade Idea: Bullish Breakout in Nvidia
Nvidia shares have surpassed the $1,000 mark, driven by a strong earnings report and a 10-for-1 stock split announcement. The stock has been in a long-term uptrend since the 50-day MA crossed above the 200-day MA last January.
Breakout Range Bullish Trade
A breakout range bullish trade occurs when a stock moves above resistance after consolidation, signaling potential for further gains. Nvidia recently broke out from a three-month consolidation to a new all-time high.
Price Target
With trading volumes decreasing since Nvidia's $974 high in March and the breakout now confirmed, traders can project a price target by adding the $210 consolidation range to the $969 breakout point, aiming for $1,179.
Conclusion
Nvidia's breakout, supported by strong fundamentals, presents a promising bullish trade opportunity with a price target of $1,179.
Nvidia shares have surpassed the $1,000 mark, driven by a strong earnings report and a 10-for-1 stock split announcement. The stock has been in a long-term uptrend since the 50-day MA crossed above the 200-day MA last January.
Breakout Range Bullish Trade
A breakout range bullish trade occurs when a stock moves above resistance after consolidation, signaling potential for further gains. Nvidia recently broke out from a three-month consolidation to a new all-time high.
Price Target
With trading volumes decreasing since Nvidia's $974 high in March and the breakout now confirmed, traders can project a price target by adding the $210 consolidation range to the $969 breakout point, aiming for $1,179.
Conclusion
Nvidia's breakout, supported by strong fundamentals, presents a promising bullish trade opportunity with a price target of $1,179.
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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.