Nathan_Black

Nathan_Black

NVDA has reached a critical resistance area, as evidenced by the yellow area in the chart above. Although a pullback would be plausible in this circumstance, there is no bearish chart structure suggesting a possible correction, and there is no top signal today. Since it hit the previous support at $403.11 (red line), NVDA has rallied relentlessly. So it's...

Nathan_Black Updated 

TSLA shares are down today, showing a bearish reaction right after closing their gap at $242.08, which is acting as a resistance level, as expected. The medium-term trend is up, as TSLA is recording higher highs/lows since bottoming out on October 31 at $194. In addition, it recently triggered an Inverse Head and Shoulders chart pattern after breaking through the...

Nathan_Black

• Recently, TSLA failed in breaking the resistance area around $262, which I’ve alerted on my previous TSLA analysis (link below this post); • This triggered a short-term pullback, and TSLA approached its support levels on the daily chart, namely the 21 ema and the $237 area; • This week, it did a good reaction above this support level, indicating that it wants to...

Nathan_Black

• NVDA is correcting today, however, it is still above its support line at $419.38, which was a previous top level on May; • Even if NVDA corrects to the 21 EMA on the daily chart, the trend would remain technically bullish; • The trend would reverse only if NVDA makes a new lower high/low - so far, it has been doing only higher highs/lows. Remember, trends...

Nathan_Black

• The SPX is correcting today, and it seems it is seeking the 21 ema again; • So far, it is still doing higher highs/lows, therefore, it is still a bull trend despite the recent correction; • Since it is a bull trend, any bullish reaction around a support level would be just an opportunity to buy; • SPX is still far from its main support levels, indicating that we...

Nathan_Black

• TSLA stock has just filled an open gap from October 2022; • However, although we have reached this resistance level, there’s no clear top signal indicating a correction; • So far, the trend is still bullish, as TSLA is still doing higher highs/lows and it is above the 21 ema. However, any top signal would trigger a correction to lower levels, like the 21 ema on...

Nathan_Black

• Yesterday, TSLA did a Gravestone Doji candlestick pattern, just under the $191 resistance line, indicating a pullback; • As I mentioned yesterday, any pullback to the $177 area wouldn’t be the end of the world, as the trend is still bullish (the link to my previous analysis is below this post, as usual); • So far, it seems this is just a pullback, as there’s no...

Nathan_Black

• We nailed the 4,195 target on the SPX, as mentioned in my previous public analysis from May 16 (link below this post); • Now, it appears the index wants to correct, and the 21 ema is right there waiting for it, as a technical support level. This makes sense as it just hit its target; • The problem is that it isn’t dropping properly. Despite the drop this...

Nathan_Black

• TSLA just reached another resistance level, after breaking its previous resistance at $177, as mentioned on my previous public analysis (link below this post); • Although it just hit another resistance level at $191, there’s no top signal, nor bearish reversal structure on TSLA yet. Even if we see TSLA dropping, the trend would still remain bullish – remember,...

Nathan_Black

• Today TSLA hit our technical target at $177.65, successfully filling the previous gap; • Now, it seems it is starting to lose momentum, but it is too soon to tell if we’ll trigger a top signal around this resistance (like a Shooting Star pattern, or maybe a Gravestone Doji?); • If yes, then a pullback is likely to happen, but as long as TSLA remains above its 21...

Nathan_Black

• TSLA stock continues its rally, heading to the next resistance level, at $177 (purple line); • So far, there’s no technical top signal, nor bearish reversal structure indicating that TSLA could correct from here; • On the daily chart, we see that TSLA is doing higher highs/lows, and if it breaks the $177 resistance, it’ll trigger another pivot point, and in this...

Nathan_Black

• AAPL just reached a short-term support line on the 1h chart, around $170.93; • This support area acted as a support on three different occasions recently, and it acted as a resistance level on May 3; • So far, it seems AAPL is reacting above this key point. In this case, we can expect that it will seek the next resistance around $174, which is the main...

Nathan_Black

• TSLA did a powerful bottom sign just after it hit the $165 support line, the key point that I mentioned yesterday, on our previous analysis (link below this post, as usual); • Now, TSLA is trigged a short-term reversal structure, as it did a higher high/low, breaking a pivot point at $169.51, and it is above the 21 ema (which is pointing up now); • So far,...

Nathan_Black

• The SPX is trading inside a range, between 4,148 and 4,099. Only a breakout will bring something new; • The 4,099 is a Double Bottom, and if the index loses this key support, we might see it correcting to the next support line, at 4,029, filling the gap at 4,072 in the process; • However, the SPX is still trading above the 21 ema on the daily chart,...

Nathan_Black

• TSLA is once again reacting above our key support line at $165, which we already mentioned yesterday (the link to my previous analysis is below this post, as usual); • Only if TSLA loses the $165 we would see a sharper correction ahead, probably to fill the previous gap around $161 (yellow square); • On the daily chart, we see why the $165 is so important:...

Nathan_Black

• NVDA is trading inside a Trap Zone, between the $289 resistance and the ascending 21 ema, which is squeezing the price as time passes; • Only a breakout of one of its key points would bring something new to NVDA. Usually, Trap Zone breakouts are quite powerful; • By breaking the resistance at $289, NVDA would just resume the bullish sentiment, and the next...

Nathan_Black

• TSLA hit our target area last Friday, around $177, and it is now triggering a Bearish Engulfing candlestick pattern on the daily chart. I mentioned this target on our previous TSLA analysis – link below this post; • The problem is that TSLA triggered this Bearish Engulfing under the $177 resistance, and it is back under the 21 ema as well, indicating that TSLA...

Nathan_Black

• The SPX failed in breaking the resistance at 4,148, which is the neckline of an IH&S chart pattern; • If it loses the 21 ema, it might frustrate this pattern, and in this case, we would seek lower levels on the daily chart: • The index could hit its 21 ema next, if it keeps losing momentum on the 1h chart, while the main support is at 4,048; • The 4,048 is...