NVDA: Next target and the most important resistances!

2022년 2월 28일

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

In the 1h chart, it is breaking the pivot point at $ 242.14, which is great, but it seems it is losing strength now. There’s a reason for this, and I’ll explain later.

For now, let’s keep in mind that the bias is bullish in the short-term, however, a pullback to the 21 ema again wouldn’t be a reason to panic. In fact, it could be another opportunity to buy.

The last gap (yellow square) is going to work as a magnet for us, therefore, the $ 269 area is a technical target for NVDA. Now, why is it losing strength today?



In the daily chart, the trend is still bearish, and NVDA just hit its 21 ema again. This point is a technical resistance. But to me, the most important resistance to break is the purple trend line, as we see many top levels at this line.

The reaction seen in the 1h chart is a good one, and might be the beginning of something great, but NVDA still has its challenges and the situation is delicate.

The trend is bullish in the 1h chart, but bearish in the daily chart. Who will prevail? Only time will tell. Either way, I’ll keep you guys updated on this every day, so remember to follow me to keep in touch with my analyses!