Greetings Investors,
I'm BULLISH on NVDA to $200 based on the following:
Bullish Factors:
1. Bullish divergences on the weekly, daily, and 4h charts.
2. Bullish sentiment and volume is growing on the 4h chart.
3. $155 area is key area of support, with (4) previous rejections below that price. If NVDA bounces today, it will make the fifth rejection.
Target: $200
1. $200 is the 23% retracement level on the weekly charts - a modest target. $228 is both aggressive and reasonable.
Happy Trading!
Charts:
Weekly. Shows bullish divergence and key retracement targets. Yellow Line 200 EMA (daily) is also a reasonable target. Bearish sentiment and selling pressure are evident on the weekly.
Daily. Shows bullish divergence and key retracement targets. Also indicates triple bottom (bullish) at the $155 area, bullish sentiment, and decreased selling pressure.
4h. Depicts key support/resistance zones. NVDA is testing support on the daily for a fifth time. If it holds and bounces, this bullish thesis is valid. If not, NVDA may retrace to $145 area of support.
I'm BULLISH on NVDA to $200 based on the following:
Bullish Factors:
1. Bullish divergences on the weekly, daily, and 4h charts.
2. Bullish sentiment and volume is growing on the 4h chart.
3. $155 area is key area of support, with (4) previous rejections below that price. If NVDA bounces today, it will make the fifth rejection.
Target: $200
1. $200 is the 23% retracement level on the weekly charts - a modest target. $228 is both aggressive and reasonable.
Happy Trading!
Charts:
Weekly. Shows bullish divergence and key retracement targets. Yellow Line 200 EMA (daily) is also a reasonable target. Bearish sentiment and selling pressure are evident on the weekly.
Daily. Shows bullish divergence and key retracement targets. Also indicates triple bottom (bullish) at the $155 area, bullish sentiment, and decreased selling pressure.
4h. Depicts key support/resistance zones. NVDA is testing support on the daily for a fifth time. If it holds and bounces, this bullish thesis is valid. If not, NVDA may retrace to $145 area of support.