NVDA: This could trigger an amazing REVERSAL!

٣ مايو ٢٠٢٢

Hello traders and investors! Let’s see how NVDA is doing today!

Since our last update, it dropped a lot, and it couldn’t trigger any reversal sign, but right now, there’s a light in the end of this tunnel.

The indices are reacting nicely, and this will surely affect NVDA. We don’t see any clear bullish reversal sign, but we could see one if it breaks the $ 200 area (blue line). Why it is important to see NVDA breaking this line? Because we will see, for the first time since March, it is doing a higher high/low. By breaking the previous resistance, it’ll trigger a bullish structure and leave the 21 ema behind.

However, we must always wait for confirmation. The resistance levels are all plotted o the chart above. To me, if NVDA triggers a reversal, it’ll seek the gap at $ 258 (red line).



In the daily chart, we see how important it would be to see a reversal right now. NVDA is just at its support level around $ 195. It stabilized nicely, and the volume decreased since April 27, but the bullish days had more volume than the bearish ones (another fact that supports a powerful reversal).

We can see the gap at $ 258 in the daily chart too, and it makes sense to work with this target in the mid-term as well. Yes, the $ 289 is the technical resistance, but it’ll take a while to get there. Many stocks are triggering amazing reversal patterns this week, and NVDA is an interesting play. It is not the best, but it is looking great.

For now, let’s pay attention to the $ 200 area. I’ll keep you guys updated, so, remember to follow me to keep in touch with my updates.