NVDA is bouncing alongside the market
$NVIDIA(NVDA)$ up 0.5% today, bouncing alongside the market as auto tariffs on Canada get delayed.
The key signal for a short-term bottom? The BX Trender needs to stop making lower highs into lower lows and start showing higher lows, which would hint at a bounce back to $130, much like Feb 6 - Feb 14.
🔎 On the 4H chart, the Smart Money Zone has held, and we’re seeing higher lows, but the daily BX still hasn’t flipped, so no confirmation yet.
We've been bearish on NVDA since November, when the weekly BX Trender started making lower highs into lower lows, signaling a sell-off into a discounted range (which is now being tested).
⚠️ If we get confirmation tomorrow, I’ll feel strong about a push to $130-$135 before a potential rejection. But for a real reversal, we need the BX Trender to make a higher low next week or the week after.
📉 Bigger concern? The monthly chart looks bad, BX has been red for two months, which usually means sideways movement for months or even years. This is why I haven’t touched NVDA since November.
🚦 Watching for a daily BX confirmation into tomorrow & Friday’s session, if it prints a higher low, we might see buyers step in.
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- AI_FocusedTrader·2025-03-06NVDA has been interesting to watch, thanks for your insights!LikeReport