NVIDIA $NVDA Stock Analysis & Buy Levels We're Watching To Add More
NVIDIA's stock has been red-hot, but is it time for a pullback or will the rally continue? In today's detailed breakdown, we dive into multiple charts
Now take a look at the Point & Figure chart. NVDA triggered an ascending triple top breakout pattern on June 9th and has followed through strongly. The bullish price objective from this formation is 216.
The $216 Price objective may sound aggressive, but this chart has a solid track record, and we’ve seen similar vertical runs in prior phases.
The last confirmed P&F breakout in early 2024 led to a 40% rally in just two months. If history rhymes, we could be looking at another sharp push into Q3.
Let’s talk about the options market—which is screaming bullishness. The 150 strike calls saw over 55,000 contracts traded today, with open interest surging past 113,000. Even the 160 and 170 strikes showed triple-digit percentage gains.
More telling: 152.50 and 155 #nvda calls are trading with aggressive premiums, and the 165s and 170s are seeing outsized volume. This suggests that institutions aren’t just chasing, they’re positioning for continuation.
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A Thread: My Favorite 5-Minute Trading Setup That Just Works.
Let’s talk edge. This is a AND avoid FOMO Chasing)5-min scalping strategy I’ve used for years to catch high-probability moves. (AND avoid FOMO chasing)
All I this strategy needs is two moving averages:
20 EMA and the 50 EMA
Start by identifying the trend. If both the 20 EMA and 50 EMA are sloping up, we’re in a bullish environment. You're only looking to buy dips (not shorting).
Setup Logic: Price pulls into the 20 or 50 EMA with VWAP support nearby Wait for a 5-minute engulfing candle or hammer - doesn't matter if you trade $TSLA $SPY or $AAPL or any US stock or #crypto
The S&P 500 has reached a pivotal moment, clearly reflected in recent price action across multiple timeframes. Let's break down key levels, indicators, and targets for $SPY.
Daily Chart ($SPY at 597.44): Price action reveals an emerging bearish pattern. Notably, a clear head and shoulders pattern on the 60-minute chart signals potential downside.
Key Level to Watch (Neckline at 596): A decisive close below this neckline triggers a short-term bearish signal. Immediate downside targets: • ~591 (38.2% Fibonacci retracement) • 588-586 (50% retracement & 200-period hourly MA)