Trading Signals - NVIDIA Corp (NVDA)

Written By Guest User

Aries Yuangga, Wakil Penasihat Berjangka

Summary

NVIDIA Corporation (Ticker: NVDA) is currently exhibiting a dynamic technical profile across multiple timeframes. The short-term outlook is bullish, with the M15 chart showing a break above the resistance at $470 and trading above the EMA(50). The mid-term perspective is also optimistic, as indicated by a bullish engulfing pattern on the H4 chart and expectations of breaking the strong resistance at $500. However, the long-term view suggests caution, with potential pullbacks from the strong resistance at $500 towards support levels before resuming its upward trajectory.

Trading Setup - NVDA

  • Buy Limit: $419.15 (near potential right shoulder of head and shoulders pattern).

  • Stop Loss: $362.98, to mitigate risk.

  • Targets: $480 (14.52% gain), $500 (19.29% gain), and $574 (36.98% gain).

Short-term Analysis: M15 Timeframe

  • Resistance Break and Bullish Continuation: NVDA has broken the resistance at $470 on the M15 chart. Trading above the EMA(50) and with an RSI at 57.18, a continuation of the bullish trend is expected.

Mid-term Analysis: H4 Timeframe

  • Bullish Engulfing Pattern: The H4 chart closed with a bullish engulfing pattern, suggesting a strong bullish sentiment and a likely continuation upwards.

  • Resistance and EMA: The aim is to break the strong resistance at $500. NVDA is trading above the EMA(50) with an RSI at 53.49, reinforcing the bullish outlook.

Long-term Analysis: Weekly Timeframe

  • Resistance and Pullback: NVDA has faced rejection at its strong resistance at $500 in recent weeks, indicating a potential serious pullback towards supports at $435 and $419.

  • Continuation Upwards: Post-pullback, NVDA is expected to continue its upward movement towards $574. The RSI at 59.93 and trading above the EMA(50) on the weekly chart supports this view.

Chart Patterns

  • Head and Shoulders Formation: A potential head and shoulders pattern may be forming, with the right shoulder around $419-$435 and the head at $390. A fall below $390 would invalidate this pattern.

Conclusion and Forward Outlook

Investors in NVDA should monitor the stock closely for signs of continuation or reversal at key technical levels. The short to mid-term outlook appears bullish, but the long-term perspective warrants caution due to potential pullbacks. The identified buy limit and stop loss levels, along with the targets, provide a structured approach for traders considering NVDA.





*Disclaimer:

This analysis is based on historical price movements and technical indicators. Investors are advised to conduct their own research and consult with financial advisors. The stock market is inherently volatile, and past performance does not guarantee future results. This information is provided for general information purposes only. Consider your investment objectives, financial resources and other relevant circumstances carefully before investing. This is not an invitation or an offer to invest, nor is it financial advice or a recommendation to buy or sell any investment.

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