Based on 4-hour chart for NVDA (NVIDIA Corporation), here’s a detailed technical analysis:
Trend Analysis:
The chart shows a strong uptrend, followed by a recent consolidation phase.
The price is currently trading near the 50-period moving average, which could act as support.
Support and Resistance Levels:
Support Levels:
$120.00: A significant support level close to the current price.
$110.00: A previous support level that could be revisited.
$100.00: Psychological support and previous consolidation area.
Resistance Levels:
$130.00: Immediate resistance level.
$140.76: Recent high and significant resistance level.
Indicators:
MACD: The MACD histogram is showing signs of a potential bullish crossover, indicating a possible upward momentum shift.
Volume Profile: High volume activity around the $123.91 level, indicating strong interest in this price range.
Detailed Price Action Analysis
Price Action:
The price is currently consolidating around the $123.91 level, which is marked by significant volume.
There is a clear uptrend line supporting the price action, which has been recently tested.
Volume:
Volume is relatively high around the current price, suggesting strong interest and potential for a significant move.
Strategy for NVDA Long-Term Trade
Entry Point:
Consider entering a long position if the price breaks and holds above $130.00 with strong volume.
Alternatively, enter on a pullback to the $120.00 support level if the price shows signs of a bounce.
Exit Point:
Target the $140.76 level for taking partial profits.
If the bullish momentum continues, aim for higher levels around $150.00.
Set a stop-loss below the $120.00 support level to manage risk.
Scalping Strategy
Entry Point:
Look for a quick entry if the price breaks above $130.00 with strong volume confirmation.
Consider entering near the $120.00 support level if there is a strong bounce with confirming volume.
Exit Point:
For quick scalps, aim to exit near the $130.00 to $132.00 range.
Set tight stop-losses below the $120.00 level to minimize losses.
Summary of Key Levels
Support Levels:
$120.00
$110.00
$100.00
Resistance Levels:
$130.00
$140.76
$150.00
Price Actions in Detail
The recent uptrend and higher highs suggest a bullish sentiment.
The consolidation around $123.91 indicates a potential breakout or pullback zone.
Monitor the volume closely as a breakout above $130.00 with strong volume could signal a strong upward move.
Trend Analysis:
The chart shows a strong uptrend, followed by a recent consolidation phase.
The price is currently trading near the 50-period moving average, which could act as support.
Support and Resistance Levels:
Support Levels:
$120.00: A significant support level close to the current price.
$110.00: A previous support level that could be revisited.
$100.00: Psychological support and previous consolidation area.
Resistance Levels:
$130.00: Immediate resistance level.
$140.76: Recent high and significant resistance level.
Indicators:
MACD: The MACD histogram is showing signs of a potential bullish crossover, indicating a possible upward momentum shift.
Volume Profile: High volume activity around the $123.91 level, indicating strong interest in this price range.
Detailed Price Action Analysis
Price Action:
The price is currently consolidating around the $123.91 level, which is marked by significant volume.
There is a clear uptrend line supporting the price action, which has been recently tested.
Volume:
Volume is relatively high around the current price, suggesting strong interest and potential for a significant move.
Strategy for NVDA Long-Term Trade
Entry Point:
Consider entering a long position if the price breaks and holds above $130.00 with strong volume.
Alternatively, enter on a pullback to the $120.00 support level if the price shows signs of a bounce.
Exit Point:
Target the $140.76 level for taking partial profits.
If the bullish momentum continues, aim for higher levels around $150.00.
Set a stop-loss below the $120.00 support level to manage risk.
Scalping Strategy
Entry Point:
Look for a quick entry if the price breaks above $130.00 with strong volume confirmation.
Consider entering near the $120.00 support level if there is a strong bounce with confirming volume.
Exit Point:
For quick scalps, aim to exit near the $130.00 to $132.00 range.
Set tight stop-losses below the $120.00 level to minimize losses.
Summary of Key Levels
Support Levels:
$120.00
$110.00
$100.00
Resistance Levels:
$130.00
$140.76
$150.00
Price Actions in Detail
The recent uptrend and higher highs suggest a bullish sentiment.
The consolidation around $123.91 indicates a potential breakout or pullback zone.
Monitor the volume closely as a breakout above $130.00 with strong volume could signal a strong upward move.