NVIDIA

NVDA might head tomorrow(?)

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Support and Resistance Levels:

Support: Key support levels are around $126.95 and lower around $120.
Resistance: Resistance is seen near $130, and if the stock can break above this level, it might test higher levels such as $141.

The MACD (Moving Average Convergence Divergence) at the bottom shows a bearish crossover with the MACD line crossing below the signal line. This suggests potential bearish momentum in the short term.

Volume Profile:

The volume profile shows significant activity around $126.95 to $130, indicating this range is important for traders. High volume nodes around these levels can act as support or resistance.
Potential Scenarios:

Bearish Scenario:

If NVDA fails to hold the $126.95 support level, it might continue to decline towards the next support around $120. Further downside could see it testing levels around $110, depending on market conditions and volume.

Bullish Scenario:

If NVDA can maintain above the $126.95 level and move past $130 with strong volume, it could potentially rally towards $141, the next significant resistance level. A break above this level could indicate a continuation of the bullish trend.

Conclusion:
Given the current indicators and price action, NVDA might lean towards a bearish outlook unless it can reclaim and sustain above the $130 level. Monitoring the support around $126.95 and the MACD indicator closely will provide better insight into the stock's direction tomorrow. If the stock shows signs of strength and increased buying volume, it could potentially reverse the bearish momentum.

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