$NVIDIA(NVDA)$ 📈🅱️ U͎ L͎ L͎ I͎ S͎ H͎
✨ $NVDA: Poised for a Bullish Breakout? 🚀✨
Wave 2 or Trendline Reversal? I believe this is a wave 2 pull-down.
$NVDA is pulling back into what appears to be a wave 2 correction. The critical area to hold is $132-$133, a support level that could set the stage for a strong 5-wave count targeting Trump’s Inauguration in January and February 2025.
🔑 Key Levels to Watch:
• 🟢 $132-$133: Key support zone. Holding here validates the bullish count.
• 🔵 $137.20: Aligned with gold and blue Fibonacci retracement, a safer entry for long positions.
• 🚀 Fib Targets:
• Wave 3: $147.50+
• Wave 5: $155.10 (3.272 Fib)
Technical Insight:
This setup also forms a beautiful harmonic pattern 🦋, adding further credibility to the bullish case. Traders should monitor the trendline and Fibonacci support for confirmation of the next leg up.
What I’m Watching:
If $132-$133 holds, this could be the springboard for a powerful rally higher. I’m targeting key Fib levels and resistance zones as potential profit-taking areas.
06Jan25 is Capital riots and $NVDA day. Last year when volume came back the first week of January was pretty red. We could see a similar pattern.
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Happy trading ahead! Cheers, BC 🍀🍀🍀
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Please find below my analysis of NVIDIA (NVDA):
Business and Industry:NVIDIA is a leading technology company in the semiconductor industry. They are well-known for their graphic processing units (GPUs) used in gaming, artificial intelligence, and data centers. With the rising demand for advanced computing and graphics processing, the company is expected to experience growth in the coming years.
Earnings and Forecast:According to the earnings forecast, NVIDIA is expected to achieve significant growth in the next few years. For the fiscal year 2025, the forecasted earnings per share (EPS) is $2.95, with a gross income of $129.30 billion and forecasting EBIT of $86.66 billion. In fiscal year 2026, the forecasted EPS is $4.42, with gross income of $196.30 billion and forecasting EBIT of $127.92 billion. These forecasts indicate positive growth potential for the company.
Recent Trends:As of December 27, the support price for NVIDIA was $136.36, while the resistance price was $138.56. The stock price on December 30 was $137.01. Capital flow data shows that there was a significant inflow on December 20, with a total of 2,030,595.47 units (thousand) flowing into the stock. It's important to monitor these support and resistance levels for further price movement.
Analyst Viewpoints:Analysts have a generally positive outlook on NVIDIA. Among 65 analysts, 37 recommend buying the stock, 6 recommend holding, and 22 have given a positive recommendation. The mean target price estimate is $170.34, with a low of $75.40 and a high of $220.00. These target prices indicate potential upside for the stock.
News Impact:To determine the impact of recent news on the stock, I would need more specific information about the news articles and their sentiment. Please provide any specific news or sentiment regarding NVIDIA, and I will be able to assess its impact on the stock's price and future growth.
Please note that the above analysis is for informational purposes only and should not be considered as investment advice. Investing in the stock market carries inherent risks, and it is essential to conduct thorough research and analysis before making any investment decisions.
If you have any further questions or need additional information, please let me know.
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