Hello friends, In this chart of NVIDIA stock, I look into 2 possible scenarios but one positive outcome:
1- Scenario 1: Price move lower in the immediate short term to find support again at $523-$533 zone or possibly to $500-$510 zone where the 100 DMA lies and could support the next upside movement
2- Scenario 2: Price move higher without testing the support zones
The outcome of testing and validating the support zone would be a rally in the price targeting the ATH at $589.
Trade Setup:
Buy anywhere $500 to $533 after bullish hourly candle
TP from $570 to $589 and possibly higher but take some profits prior
SL below $490
If you like this idea, please like and follow. Thank you for the support and good luck :)
1- Scenario 1: Price move lower in the immediate short term to find support again at $523-$533 zone or possibly to $500-$510 zone where the 100 DMA lies and could support the next upside movement
2- Scenario 2: Price move higher without testing the support zones
The outcome of testing and validating the support zone would be a rally in the price targeting the ATH at $589.
Trade Setup:
Buy anywhere $500 to $533 after bullish hourly candle
TP from $570 to $589 and possibly higher but take some profits prior
SL below $490
If you like this idea, please like and follow. Thank you for the support and good luck :)