Nvidia: Bullish Monday?

7 days ago

A new week is about to get started and we would like to know if the NVIDIA Corporation (NVDA) chart supports a bullish Monday.

What is the chart saying on the daily timeframe?

The chart has many positive signals and support a strong week but...

Good Sunday my fellow Cryptocurrency trader, how are you feeling in this wonderful day?
I hope you are doing great.

Let's read the chart; together, let's trade!

The chart looks really good and the short-term can always surprise, anything goes.

The chart is saying, "up, straight up," and even though the markets are unpredictable, I can easily tell you what the market is doing and is most likely to happen after the weekly close.

NVDA is super bullish and likely to continue growing based on multiple signals:

1) The falling wedge pattern is already confirmed. The action broke above it.
2) The trading volume supports a continuation of the pattern breakout.
3) The correction was really strong but the reaction to support was even stronger. Such a strong reaction indicates that traders were anxious and ready to buy. The only reason to sell was based on political bad news. With the bad news removed, up we go. NVDA is solid and with Bitcoin and mining growing, the market expanding, AI, NVDA is set to follow and also grow.
4) Both the 0.786 and 0.618 Fib. retracement levels are major support and gauge the strength of a stock. If the action is happening below, bearish; when the action happens above bullish. The fact that the action moved below just to recover makes this a strong bullish signal. A failed signal for the bears because they failed to move prices lower. A strong bullish signals for the bulls because the action is back above long-term critical support.
5) The session 10-April closed as a hammer and this also points up.
6) Finally, NVDA managed to close daily above EMA8, EMA13 and EMA21. Short-term bullish bias is now valid, active and confirmed.

All these are bullish signals saying that the market will move higher next.

What needs to happen for all this to become invalid?
NVDA would need to close daily below the last low.

No need to worry about short-term moves and noise. We are going up long-term.

The correction here reached more than 43%. Believe it or not, a 43% drop is a very strong drop. For the market to go lower, it would need to be the end of the company or worse. What need is there for a stock like this one, with a great product in huge demand, to drop by 80%, for what reason?

We are going up.

Namaste.

5 days ago

Trade active

Slow growth is a good thing. As long as the market isn't crashing, this is a bullish development. Since the action just came out of support and a major low, holding the line is as good as it gets. On a drop, prices tend move lower and lower. On a bearish continuation, any price bounce would be quickly followed by a down thrust.

Seeing NVDA stay healthy above 110 is an encouraging signal for the bulls. The longer it holds above or around current prices, the stronger the technicals of this stock become.

Patience is key. Nvidia continues bullish. There would need to be a very strong crash that affects the last low for market conditions to change. Even a small drop, a shakeout or swing down would not change the current bias. We are bullish now, that is what the chart says.



I am translating the charts.

Namaste.

3 days ago

Trade closed: target reached

Nvidia (NVDA) is safe (bullish). The fact that it remains above 100 is pretty good, it confirms a higher low. NVDA is now also moving within the buy-zone, a chance to buy—again— before maximum growth.

» NVDA is safe and will continue growing based on the chart.


Even with bad news, the stock price remains really strong and technically bullish. This means that we have a good future ahead.

Namaste.