Key Levels & Signals For NVIDIA (NVDA) Stock

Technical Analysis of NVIDIA Stock for July 22nd, 2024

In this video analysis, we give a detailed examination of stock market trends, specifically focusing on NVIDIA's stock performance for July 22nd. This analysis aims to show the intricate patterns and behaviors in the underlying stock market dynamics. Through video analysis, viewers will be provided with a systematic and in-depth understanding of potential market movements and fluctuations. The objective is to furnish you with the necessary insights to address market changes effectively and consistently.

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Key Insights on Nvidia (NVDA) Market Conditions

Long-term Outlook:

• Bearish Signal: A month ago, Nvidia settled below a six-month channel top, signaling potential downside. Last Tuesday, it confirmed this by closing below a two-week channel bottom at $130.07.
• Target: Expecting the stock to reach the $111.78 to $114.07 area within one to two weeks.

Recent Buy/Sell Signals:

• Sell Signal: Closing below $130.07 confirmed the bearish outlook.
• Buy Signal: Holding above $111.78 to $114.07 could trigger a bullish rotation into the low $130s within one to two weeks.

Mid-term Outlook:

• Support Levels: The $111.78 to $114.07 area is a strong support zone. If Nvidia holds above this range, it could rebound to the low $130s in two to three weeks.
• Resistance Levels: If Nvidia closes below $111.78, it may fall to $97.40 to $89.99 within two to three weeks.

Short-term Outlook:

• Immediate Targets: Trading below $118.71 today could see Nvidia reach $111.78 to $114.07. If it breaks above $118.71, the next target is $122.92.
• Daily Close Impact: Closing above $122.92 could lead to a rise to $130.07 within three to five days. Conversely, staying below $118.71 keeps the focus on the $111.78 to $114.07 support range.

Summary

• Bullish Scenario: Holding above $111.78 to $114.07 supports a potential rise to $130.07 in the next few weeks.
• Bearish Scenario: Falling below $111.78 could lead to a drop towards $97.40 to $89.99 in the short term, with further downside risk if this support is breached.

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