BY LICIA LESLIE
June 23, 2024
Hi Shoppers,
Nvidia (Ticker: NVDA) traded right down to the support level I said it would on Thursday night.
Now where does it go from here you ask.
Here’s the chart:
The red median line of the pitchfork is an important support/resistance level.
On Friday, NVDA traded right down to it and bounced creating a high wave doji which signals mass confusion.
Neither side is in control, not the bulls or the bears.
But we do have the levels to guide us until the stock price reveals itself.
For Monday, support is sitting at $125.54.
A close below that takes it to $116.60.
If the support holds and it rallies, the first level of resistance is at $130.66 and above that at $136.30.
Remember, the close is always more important than the intraday levels.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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