Nvidia 184 CallsNvidia 184 Calls
๐ Pattern Analysis
โข Youโve identified an ascending triangle pattern:
โข Rising trendline support (black line).
โข Flat resistance near the $183.78 level (green box).
โข This is a bullish continuation pattern, especially in an uptrend like NVDA has been in.
Key Levels
โข Current Price: ~$182.83
โข Resistance / Breakout Zone: ~$183.78 (clearly marked)
โข Support Levels:
โข Short-term: $182.16, $181.49
โข Risk Level (Stop): ~$178.90
โข Stronger Support: $175.75, $174.57
โข Target (Take Profit): ~$190.03 (marked in green)
Trade Setup (Buy Breakout)
โข Entry: Around the breakout of $183.78
โข Stop Loss: ~$178.90 (below recent lows)
โข Take Profit: ~$190.03
โข Risk/Reward Ratio: Roughly 1:2, which is solid
Volume Observation
โข Volume has been decreasing during consolidation, which is typical before a breakout.
โข Watch for a volume spike to confirm the breakout above $183.78.
Risks & Notes
โข Price is currently near resistance; wait for a confirmed breakout (candle close above $183.78).
โข If it rejects this level again, a break below the ascending trendline could flip the setup bearish.
โข If support at $181.49 or $178.90 breaks, NVDA could pull back toward $175 or even $171.
Final Thought
This is a bullish setup, but confirmation is key. Either:
โข Enter on breakout with volume confirmation.
โข Or wait for a retest of $183.78 as support after the breakout.
