Chart Talks | Nvidia's Next Move: Is a Breakout to $170 on the Horizon?
$NVIDIA (NVDA.US)$ stock has been experiencing notable volatility, yet it seems ready to embark on a new phase of price discovery. ![]()
Currently, it's trading about 6% below its all-time high, and if it can break through this barrier, it might head towards a resistance zone around 170. This projection is supported by technical indicators like a 1-to-1 extension and a 1.618 Fibonacci expansion.
On the options front, there's significant open interest for Nvidia expiring on October 11, particularly in the 120-130 range. This might indicate a climb to these levels early in the week, followed by a potential drop to 118 by week's end. If this scenario plays out, it could lead to a further decline to 112-113 by October 18, suggesting that we should be mindful of possible market traps this month. ![]()
While these scenarios outline potential paths for Nvidia's stock, it's crucial to consider that market behavior can be unpredictable. ![]()
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TA fan | People overreact all the time and the chart helps us make use of that
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Rollingling : I wonder if the AI and tech sector trends could provide additional support for Nvidia's potential breakout. Thoughts?
Jrithe : Good analysis! I'm curious to see if Nvidia can break through that resistance level.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Stella-K : If Nvidia hits $170, drinks on me!
WOLFE (白狼） Stella-K : Mid November to Beginning December target $180 minimum.