NVDA Stock - NVIDIA Bullish Flag Setting Up?

Summary

In this Nvidia daily update, the presenter discusses Nvidia's stock performance, technical analysis, and market trends. They explore potential price movements, highlighting key levels like the 9 exponential moving average and the rising trendline. The presenter provides both bullish and bearish scenarios, emphasizing that the stock is currently strong and unlikely to turn bearish without significant changes. They share insights on upcoming market conditions, including potential moves to the upside or consolidation, and mention key support levels to watch. Overall, the outlook remains bullish for Nvidia, with a focus on patience and monitoring key technical indicators.

Takeaways

• 😀 The video discusses a daily Nvidia stock update, with insights on the stock's movements and potential future trends.
• 😀 The speaker emphasizes that the content is not financial advice, but rather technical analysis shared with their YouTube membership community.
• 😀 The first tier of membership is affordable, priced at $3 per month, and provides updates on Nvidia, with higher-tier memberships offering more stock analysis.
• 😀 Nvidia experienced a solid 2.5% increase in stock value, closing at $157. The focus is on whether the stock will continue to rise or consolidate.
• 😀 Nvidia has been hugging the 9 exponential moving average (EMA) for a couple of months, indicating that the stock is holding strong despite volatility.
• 😀 A key signal for a bearish scenario would be if Nvidia closes below the 9 EMA, which could indicate a deeper correction.
• 😀 The bull case scenario suggests that Nvidia could see further price increases if it closes above $159, potentially reaching around $165.
• 😀 Another potential scenario is sideways consolidation, where Nvidia may dip to around $148-149 before bouncing back and continuing its upward trend.
• 😀 The bearish scenario would occur if Nvidia loses the 21 EMA or drops below $145, potentially triggering a correction back into the low 130s or 120s.
• 😀 Even in a bearish scenario, the stock would still be considered in a bullish correction as long as it holds key support levels.
• 😀 The weekly chart shows strong support at the $142-$150 range, and any pullback into this zone could serve as a retest before continuing the bullish trend.

Q & A

What is the main focus of the Nvidia daily update video?

The main focus of the video is providing a technical analysis of Nvidia's stock, including recent price movements, potential future trends, and the speaker's perspective on whether Nvidia's stock will go higher or continue consolidating.

How does the speaker describe their YouTube membership offerings?

The speaker mentions that their YouTube membership is designed to be affordable, with three tiers: the first tier at $3 per month, the second tier at $5 for Nvidia updates, and the third tier at $7 for additional stock analysis, including non-Tesla and non-Nvidia stocks.

What technical indicator does the speaker primarily focus on for analyzing Nvidia's stock?

The speaker primarily focuses on the 9 exponential moving average (EMA) to analyze Nvidia's stock movements, emphasizing how the stock has been 'hugging' this EMA for an extended period.

What bullish scenario does the speaker propose for Nvidia's stock?

The speaker suggests that if Nvidia's stock closes above 159, it could lead to a move higher toward 164-165, as the stock would be touching the top of a rising daily trend line.

What is the less bullish scenario the speaker discusses for Nvidia?

The less bullish scenario involves Nvidia continuing sideways consolidation in the low to mid 150s before potentially dropping to 148-149, where it could form a bullish flag and then move higher.

How does the speaker describe Nvidia's behavior during the past few months?

Nvidia's stock has been experiencing consolidation, with minimal movement but consistent price holding above key moving averages like the 9 EMA. The stock has also been pulling back slightly without showing significant bearish signs.

What is the significance of the 21 exponential moving average (EMA) in the speaker's analysis?

The 21 EMA is seen as a critical level for determining potential weakness in Nvidia's stock. If the stock loses the 21 EMA, it could signal a more concerning bearish scenario. However, the speaker does not anticipate this happening unless certain lower levels are breached.

What is the lowest target the speaker anticipates for Nvidia while still being bullish?

The speaker believes that Nvidia could drop as low as 145 and still remain bullish, as long as the stock does not fall below 142, which would indicate the potential start of a deeper correction.

How does the speaker view the weekly chart for Nvidia?

The speaker views the weekly chart positively, noting that despite any potential short-term corrections, the weekly moving averages remain bullish. A drop below key levels like 142 would lead to a deeper correction, but the longer-term trend still appears strong.

What does the speaker say about recent options flow related to Nvidia's stock?

The speaker mentions that there has been significant put activity for Nvidia, including a 1.5 million put option for July 18th and a 1 million put option for July 11th. This suggests that some traders are anticipating a potential rejection around the 160 level and a move lower, which aligns with the speaker's expectation of a possible bull flag setup.