NVIDIA recently gave a trendline breakdown on the chart, indicating that bullish momentum has weakened. After the breakdown, the stock also retested the broken trendline from below, which is a common technical behavior — often referred to as a breakdown and retest pattern. This confirms that the broken trendline has now turned into a resistance level.
⚖️ Implications
Since the retest failed to reclaim the trendline, selling pressure is likely to continue.
The stock is now vulnerable to further downside and may gradually drift lower.
The immediate support zone lies at $155–150, which coincides with prior demand areas where buying interest previously emerged.
✅ Key Levels
Resistance (Invalidation): The broken trendline — if price reclaims and sustains above it, bearish momentum weakens.
Support: $155–150 zone (short-term target area).
Trend Bias: Bearish as long as the stock trades below the retested trendline.
⚖️ Implications
Since the retest failed to reclaim the trendline, selling pressure is likely to continue.
The stock is now vulnerable to further downside and may gradually drift lower.
The immediate support zone lies at $155–150, which coincides with prior demand areas where buying interest previously emerged.
✅ Key Levels
Resistance (Invalidation): The broken trendline — if price reclaims and sustains above it, bearish momentum weakens.
Support: $155–150 zone (short-term target area).
Trend Bias: Bearish as long as the stock trades below the retested trendline.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.