$NVIDIA (NVDA.US)$From the chart, it looks like NVIDIA (NVDA) might be forming a potential double bottom pattern around the $100-$105 range, which is typically seen as a bullish reversal signal. The price seems to be rebounding from this level, indicating buying interest. If the stock continues to rise and breaks above the $125-$130 resistance level, it could confirm the double bottom and suggest a potential continuation of the uptrend.
However, the price also shows signs of previous resistance around $135-$140, so monitoring these levels is crucial. If NVDA fails to break above resistance, it could signal a continuation of the sideways or bearish trend. Keep an eye on volume during these movements, as higher volume on upward moves would confirm the bullish sentiment.
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SumanKP
OP151323992
:
it is all about sentiments and news. y'day despite PPI and jobless claims bad data market still went up, because our CEO boss prev day statements
Kevin Matte
:
Will price breakout or will dip to support zone ? My question is am i selling when stock price will touch resistance ? I think that when the price will be in this zone, it will depend on the economic context, the volatility of the market and the macroeconomic data at the time and place. If I believe that at that moment the market will go down, I will sell to buy lower !
SumanKP
OP
:
daily chart, MACD crossing, RSI and KDJ around 50+ , forming double top ..poised to uptrend with little bit of correction. but again it depends on the news (mostly Fed rate cut this Wednesday) for fuel to break 130 or possibly main resistance 140 this time.
SumanKP OP :
151323992 : What about price correction doesn't that mean anything
SumanKP OP 151323992 : it is all about sentiments and news.
y'day despite PPI and jobless claims bad data market still went up, because our CEO boss prev day statements
151323992 : That's very true I was thinking the same thing
Kevin Matte : Will price breakout or will dip to support zone ? My question is am i selling when stock price will touch resistance ? I think that when the price will be in this zone, it will depend on the economic context, the volatility of the market and the macroeconomic data at the time and place. If I believe that at that moment the market will go down, I will sell to buy lower !
SumanKP OP : daily chart, MACD crossing, RSI and KDJ around 50+ , forming double top ..poised to uptrend with little bit of correction. but again it depends on the news (mostly Fed rate cut this Wednesday) for fuel to break 130 or possibly main resistance 140 this time.