NVDA: Pullback in a Bull Trend = Opportunity? Let's see.
• NVDA is still incredibly bullish, as it is still doing higher highs/lows and it even broke the resistance we mentioned a few weeks ago (link to my previous analysis below this post);
• However, in the past few days NVDA is doing a pullback, which doesn’t mean bearish reversal, but it is showing weakness and it is supposed to retest its support levels;
• The first support is seen in the daily chart, the red line at $149, along with the 21 ema, making this a dual-support area;
• If NVDA loses the dual-support area in the daily chart, then the next stop is the $141, the black line in the daily chart;
• Since the trend is still bullish, any bullish reaction above any of these key support areas might be just an opportunity to buy - there's no bullish sign confirmed yet;
• So far, there’s no bearish reversal structure on it as well. Let's pay attention to the key points mentioned in this analysis. I’ll keep you guys posted on this.
Remember to follow me to keep in touch with my analyses!
• However, in the past few days NVDA is doing a pullback, which doesn’t mean bearish reversal, but it is showing weakness and it is supposed to retest its support levels;
• The first support is seen in the daily chart, the red line at $149, along with the 21 ema, making this a dual-support area;
• If NVDA loses the dual-support area in the daily chart, then the next stop is the $141, the black line in the daily chart;
• Since the trend is still bullish, any bullish reaction above any of these key support areas might be just an opportunity to buy - there's no bullish sign confirmed yet;
• So far, there’s no bearish reversal structure on it as well. Let's pay attention to the key points mentioned in this analysis. I’ll keep you guys posted on this.
Remember to follow me to keep in touch with my analyses!
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