Here we are looking at NVDA on the Daily TF…
As we try to figure out what NVDA will do next, one thing is very clear when looking at its chart: NVDA is currently trading in a very strong resistance zone.
Currently, NVDA is testing two resistance lines:
1. The Upwards sloping trend line which dates back to July of 2021
2. Horizontal resistance which is a gap fill.
As NVDA tried to break through these lines, it has been rejected thus far. There is still time for the daily candle before it closes the weekly candle, however if it were to close as is, we’d be looking at a topping tail candle which is a sign of reversal.
If NVDA closes with a topping tail, and closes with a preliminary rejection of this two confluent resistance lines, I find a pull back move to follow…
Are you trading NVDA? Let me know in the comments!
Cheers!!
As we try to figure out what NVDA will do next, one thing is very clear when looking at its chart: NVDA is currently trading in a very strong resistance zone.
Currently, NVDA is testing two resistance lines:
1. The Upwards sloping trend line which dates back to July of 2021
2. Horizontal resistance which is a gap fill.
As NVDA tried to break through these lines, it has been rejected thus far. There is still time for the daily candle before it closes the weekly candle, however if it were to close as is, we’d be looking at a topping tail candle which is a sign of reversal.
If NVDA closes with a topping tail, and closes with a preliminary rejection of this two confluent resistance lines, I find a pull back move to follow…
Are you trading NVDA? Let me know in the comments!
Cheers!!
To see my exact trades:
Stocks: inthemoneystocks.com/verified-investing-alerts/
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Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/