NVDA: 3-Month Consolidation Primed for Potential Breakout
Resistance Level: $135–140 (key breakout point).
Support Level: $100–110 (lower bound of the channel).
Bullish Breakout: Watch for a breakout above $140 with increased volume, targeting $160+.
Bearish Rejection: Rejection at $140 could lead to a move back to $100, with further downside possible on a break below support.
This consolidation suggests that NVDA is preparing for a significant move, and close attention to upcoming price action and volume will be crucial in determining the next trend.
Breakout Potential:
Bullish Scenario:
Breakout Above Resistance: If NVDA breaks above the $140 resistance with high volume, it would signal a bullish breakout.
Price Target: After the breakout, the first target would likely be around 160
Confirmation: A daily or weekly close above $140 with sustained volume would add confidence to the breakout.
Bearish Scenario:
Rejection at Resistance: If NVDA fails to break above $135–140 and shows signs of rejection (long wicks or bearish engulfing patterns), it may retrace toward the lower support level of the channel ($100).
Breakdown: A breakdown below $100 would signal further bearish momentum, with potential targets around $85–90.
Consolidation Continues:
NVDA could also continue to consolidate within this channel for a longer period. In this case, range-bound traders might look to buy near support ($100) and sell near resistance ($140), waiting for clearer signals of a breakout.
Support Level: $100–110 (lower bound of the channel).
Bullish Breakout: Watch for a breakout above $140 with increased volume, targeting $160+.
Bearish Rejection: Rejection at $140 could lead to a move back to $100, with further downside possible on a break below support.
This consolidation suggests that NVDA is preparing for a significant move, and close attention to upcoming price action and volume will be crucial in determining the next trend.
Breakout Potential:
Bullish Scenario:
Breakout Above Resistance: If NVDA breaks above the $140 resistance with high volume, it would signal a bullish breakout.
Price Target: After the breakout, the first target would likely be around 160
Confirmation: A daily or weekly close above $140 with sustained volume would add confidence to the breakout.
Bearish Scenario:
Rejection at Resistance: If NVDA fails to break above $135–140 and shows signs of rejection (long wicks or bearish engulfing patterns), it may retrace toward the lower support level of the channel ($100).
Breakdown: A breakdown below $100 would signal further bearish momentum, with potential targets around $85–90.
Consolidation Continues:
NVDA could also continue to consolidate within this channel for a longer period. In this case, range-bound traders might look to buy near support ($100) and sell near resistance ($140), waiting for clearer signals of a breakout.
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