Thread by @RamsayRippers

🧵🚨As requested, a thread on my outlook and thoughts on $NVDA - Based on my TA and added support from @unusual_whales flow 🐋

$NVDA had insane movement last week so let's get right into it.

(1/19) First and foremost here are the Fibonacci Retracement levels (1D) I've been using in this current trading range. We broke over the high of this fib range early last week but these levels have been money so I'm keeping them up till/if NVDA sees north of 290 and consolidates

(2/19) This retracement is drawn from the 2/10 HOD of 269.25 to the 3/8 LOD of 206.50.

I want to point out that, at first, this chart may look hectic w/ all the different price levels, but over time as you get used to plotting fibs it should get easier to read & comprehend

(3/19) Very key fibs I want to highlight with respect to this retracement on NVDA are...

255.82 (78.6%)
245.28 (61.8%)
230.47 (32.8%)

Not that the other fib levels aren't important, I just saw lots of interesting price action along these specific levels.

(4/19) Now here are some key levels I also have for $NVDA

294
284.95
272.45/272.40
262.65

I attached a few screenshots from a few different time frames to put it in perspective.

(5/19) Here's a screenshot from the 30m timeframe which might make it a little easier to digest the actual levels.

(6/19) GAPS - I also want to point out an unfilled gap on NVDA which you can see is from March 15th-16th 230.38 to 231.72. Webull charts this gap from the high of the wick... If you chart your gaps from the candle body then it would be 229.73 - 231.72.

(7/19) That unfilled gap is of little to no importance being that it's a very small one and we are trading nearly $50 higher than we were at the time of the gap, but it's something to keep in mind if NVDA comes back down to that area.

(8/19) Another unfilled gap we have on NVDA is a gap on the 5m chart from March 23rd to the 24th 257.04 - 259.07. Once again, not so important taking into account it's a 5/10m timeframe gap. But I'm keeping this in mind if we come down.

(9/19) Now let's get into the crazy intraday price action we had over the last two weeks, specifically the 78.6% retracement (255.82)

On March 18th we ripped at open to test the 255.82 fib level overhead where we see a nice Break Hook & Go to new highs of the current range.

(10/19) Fast forward to this past week (March 22nd/March 23rd) we gapped down and had our first test of 255.82 fib level to the downside. Ultimately we bounced and closed the day over this level telling me that this previous resistance turned to new support.

(11/19) As stated earlier in this thread 272.40 is a key level on my chart, which was the HOD on March 22nd. Something else to note: this was also resistance overhead on the 4h chart from January 13th/14th. March 22nd HOD was the first time we touched this level since Jan.

(12/19) Here's a chart from last week's $NVDA price action. Once we broke over 272.40 and approached new highs on the 24th. I was interested to see us get a strong bounce off this level on Friday the 25th indicating to me previous resistance has turned to new support.

(13/19) Now... Overhead levels from where we closed on Friday... The main one I have is 285. I also have a supply zone from 284-286 dating back to January 1st to January 13th of this year, pictured below.

(14/19) As you can see pictured in the last tweet, on Jan 4th we found support off 285. Once we broke to this level to the downside 285 and retested shortly after, we saw a supply zone form along this level. I'm calling it from 284-286.

(15/19) So... NVDA over this supply zone (286) I think we see 294 quickly and 300 not long after.
If you pull up the daily chart & put a price level at 294 it shouldn't be hard to see why.

Over 300 psych I have 303ish, 313.18, and 324.69. We'll worry about that if we get there.

(16/19) Under 272.40 I think we see 269.20 very quickly and 262.20 not long after.

Something to keep in mind to the downside is the strong support at 255.82 (the 78.6% fib). Under that, I think we knife to 247 or even lower.

(17/19) NVDA FLOW🐋
Targeted expiration dates: 4/1/2022 (bearish & bullish)
Targeted strikes bulliush: 265 & 282.5
Targeted strikes bearish: 280 & 270

(18/19) Hot Chains & Tickers via @unusual_whales
$NVDAhad the 8th highest call volume and 6th highest put volume according to UW's hot chains and tickers.

(19/19) I hope you guys enjoyed this thread. Stay tuned for the next one coming this week - $FB... I'll be doing one or two of these every week on a ticker of your guys' choice. Keep an eye out for the polls where I'll let y'all decide by sector then narrow down to ticker.