NVIDIA CORP.: TECHNICAL ANALYSIS
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY STOP |
| Entry Point | 740.00 |
| Take Profit | 830.00 |
| Stop Loss | 700.00 |
| Key Levels | 576.00, 660.00, 694.00, 700.00, 740.00, 830.00 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 676.00 |
| Take Profit | 576.00 |
| Stop Loss | 700.00 |
| Key Levels | 576.00, 660.00, 694.00, 700.00, 740.00, 830.00 |
Shares of Nvidia Corp., the American giant in the development of video graphics processors, are trading at 694.00.
On the daily chart, the price retreated from the year’s high of 740.00 as part of a corrective trend.
On the four-hour chart, the probability of continued downward dynamics is low, and the quotes may reach no more than the recent gap beginning at 660.00. Overall, a stable upward trend remains, and if 740.00 is reached again, an increase to the new high of 830.00 is expected.
Technical indicators maintain a buy signal: fast EMAs on the Alligator indicator move away from the signal line, keeping the fluctuation range wide, and the AO histogram forms corrective bars above the transition level.
Trading tips
Long positions may be opened after the price rises and consolidates above 740.00 with the target at 830.00. Stop loss – 700.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 676.00 with the target at 576.00. Stop loss – 700.00.
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