NVDA Stock - Can NVIDIA See $190+ Into Earnings?

Summary

In this Nvidia daily update, the speaker provides a bullish outlook on the stock, analyzing technical patterns and key price levels. They highlight the ongoing momentum, including the rising triangle on the 1-hour chart and support at the 9 EMA on the daily chart. While the market has shown signs of potential bearish movement, the technical indicators suggest the bulls are still in control. The speaker cautions that the rally will not last indefinitely, but for now, Nvidia is poised for further upside movement toward the low 190s.

Takeaways

• 😀 Nvidia's stock remains bullish, showing consistent momentum despite occasional minor pullbacks.
• 📈 The daily trend is still strong, with the Naima green line holding and no consecutive candles closing below it.
• 🔍 On the 1-hour timeframe, Nvidia is in a rising triangle pattern, a bullish continuation signal.
• 🚀 The bulls are in control, and as long as the trendline around $181 holds, upward momentum is expected.
• 🔴 A potential red flag would be losing the $178 support level, but for now, bulls remain in control.
• 📊 A break above $183–184 would signal further upside, possibly pushing Nvidia to the low $190s.
• 📅 The weekly chart is still bullish, despite last week's weak candle, which didn't trigger a reversal signal.
• 💡 MACD indicators are still supportive of the upward trend, with no sign of a lower high yet.
• ⚠️ There's caution in the market, with some bearish options flow towards the end of the day, but this isn't overwhelming.
• 💬 The speaker emphasizes that the charts and price action are the main indicators, with options flow being secondary.
• 🔮 While there are concerns about eventual correction, Nvidia's stock has yet to show signs of stopping, and the bullish trend is expected to continue for now.

Q & A

What is the overall sentiment regarding Nvidia's stock in the video?

The overall sentiment is bullish, as Nvidia's stock continues to rise, with both the daily and 1-hour charts indicating upward momentum.

What does the speaker mean by 'bullish momentum' in Nvidia's stock?

'Bullish momentum' refers to the consistent upward movement of Nvidia's stock, suggesting that it is likely to continue rising in the near future.

How does the speaker evaluate the daily chart for Nvidia?

The speaker highlights that the 9-EMA green line is holding strong, indicating that the stock remains in bullish territory. There have been no consecutive candles closing below this level, which suggests the trend is still positive.

What is the significance of the 9-EMA green line on the daily chart?

The 9-EMA green line acts as a key support level. As long as the price stays above it and does not close below it for multiple days, the bullish trend is expected to continue.

What pattern is forming on the 1-hour chart for Nvidia?

Nvidia is forming a rising triangle pattern on the 1-hour chart, which is a bullish continuation pattern, where the stock is making higher lows and equal highs.

What is the key trendline level to monitor on the 1-hour chart?

The key trendline level to watch is around $181. As long as the stock stays above this level, the bulls remain in control. A drop below this trendline could indicate a shift in momentum.

What resistance level is critical for Nvidia's continued upward movement?

The critical resistance level to monitor is between $183 and $184. If Nvidia breaks above this level and turns it into support, it is likely to continue moving higher.

What is the speaker's price target for Nvidia's stock in the near term?

The speaker expects Nvidia's stock to reach the low 190s, possibly around $192 to $193, as it continues its upward trend.

What indicators does the speaker use to determine whether Nvidia's rally will continue?

The speaker uses the MACD (Moving Average Convergence Divergence) and the price action on the daily and 1-hour charts. As long as the MACD shows higher highs and the price remains above key support levels, the rally is expected to continue.

What cautionary signs does the speaker mention regarding the end of Nvidia's rally?

The speaker mentions that at some point, Nvidia's rally will end. Warning signs could include a lower high on the MACD, which would indicate a potential correction. However, this has not yet occurred.