NVR Inc. at a Critical Support Zone – Bearish Outlook

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NVR Inc. (NYSE: NVR) is currently trading at a crucial technical level, and my outlook remains bearish until the stock approaches the $7,000 zone. This level represents a key confluence of an ascending trendline and the 6,8% Fibonacci retracement, making it a significant psychological and technical support area.

After reaching an all-time high (ATH) of $10,000 in October 2024, NVR has since declined by approximately 27%, reflecting a notable correction. Given this trend, traders should closely monitor price action around the $7,000 mark for potential support and reversal signals.

As always, exercise caution and apply risk management strategies when trading this asset.

il y a 3 jours

Note

Hello mates,

Zoom into this chart and see how this asset dropped down close to $7000 as projected. This zone is a confluence zone of Trendline and FIB61.8

Let's see what happens from here.

Note: there is likely a push up