NVIDIA (NVDA) traded around 180.03, pausing after a strong rally over the past two months. The stock attempted to retest the 183.09 resistance zone but was unable to sustain upward momentum, resulting in a modest corrective pullback. Despite this rejection, the broader uptrend remains intact, underpinned by a steadily rising Ichimoku cloud and a consistent pattern of higher lows that continue to signal strength in the medium term.
The ongoing consolidation around 180.03 reflects a tug-of-war between profit-taking and dip-buying at elevated levels. While sellers are showing presence near resistance, the bullish structure has not been broken, with key technical levels still holding firm. A confirmed breakout above 183.09 would likely invite renewed buying pressure and continuation of the uptrend, whereas failure to reclaim this level could trigger a deeper retracement toward lower supports. Notably, price remains comfortably above the daily Kijun-sen, with the Ichimoku cloud trending higher and expanding, providing firm support in the 160–165 region if a correction unfolds.
Momentum indicators present a mixed picture. The MACD (12,26,9) remains in positive territory, though a flattening histogram points to slowing bullish momentum. The RSI (14) reading around 57 suggests neutral-to-bullish conditions, indicating there is still room for further upside without entering overbought territory. Meanwhile, the Bollinger Bands have tightened around current price levels, reflecting compressed volatility and hinting at the potential for a decisive breakout in the coming sessions. Traders should be alert for confirmation signals, as a volatility expansion could define the next directional move.
Market Observation & Strategy Advice:
1. Current Position: NVDA traded around 180.03, consolidating between 174.65 and 183.09.
2. Resistance: First key barrier at 183.09, followed by psychological 190.00.
3. Support: Initial support at 174.65. Stronger support rests near 165.00 (cloud base).
4. Indicators: RSI Indicator: RSI (14) around 57, showing moderate bullish momentum with room before overbought conditions. MACD Indicator: MACD remains above the signal line, but a flattening histogram warns of weakening upside drive.
5. Trading Strategy Suggestions:
- Breakout Buy: Enter long on a confirmed daily close above 183.09, targeting 188.00 and 190.00.
- Pullback Buy: Consider buying dips near 174.65–175.00 if defended, stop below 172.00.
- Range Play: Short-term traders may look to sell near 183.09 with stops above 185.00, targeting 180.00.
- Risk Management: Maintain tight stops (3–4%) due to volatility near recent highs.
Market Performance:
Stocks Last Price % Change
AAPL 232.56 +0.90%
NFLX 1,231.45 +0.65%
Today’s Key Economic Calendar:
JP: Consumer Confidence
FR: Inflation Rate YoY Prel
DE: Inflation Rate YoY Prel
US: Core PCE Price Index MoM
CA: GDP Growth Rate Annualized & QoQ
US: Personal Income & Spending MoM
Risk Disclaimer This report is for informational purposes only and does not constitute financial advice. Investments involve risks, and past performance does not guarantee future results. Consult your financial advisor for personalized investment strategies.
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