Nvidia: Triple Confluence?
By:TradingView
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
Nvidia rallied to new highs early last week, and now it’s pulled back.
The first pattern on today’s chart is the advance between April 8 (ceasefire with Iran) and April 27. The semiconductor giant held a 50 percent retracement of that move and stabilized, which may confirm its upward direction.
Second is the price zone along the peaks of November and February ($196-197.63). NVDA is also holding that, which could mean that old resistance has become new support.
Third, prices bounced at the rising 21-day exponential moving average (EMA).
So, you have NVDA stabilizing at three points (retracement, old high, EMA). Is that triple confluence heading into earnings on May 20?
Next, the 8-day EMA is above the 21-day EMA. MACD is also rising. Those signals may reflect bullish short-term momentum.
Finally, NVDA is a highly active underlier in the options market. (Its average daily volume of 3.9 million contracts ranks first in the S&P 500, according to TradeStation data.) That could help traders take positions with calls and puts.
The first pattern on today’s chart is the advance between April 8 (ceasefire with Iran) and April 27. The semiconductor giant held a 50 percent retracement of that move and stabilized, which may confirm its upward direction.
Second is the price zone along the peaks of November and February ($196-197.63). NVDA is also holding that, which could mean that old resistance has become new support.
Third, prices bounced at the rising 21-day exponential moving average (EMA).
So, you have NVDA stabilizing at three points (retracement, old high, EMA). Is that triple confluence heading into earnings on May 20?
Next, the 8-day EMA is above the 21-day EMA. MACD is also rising. Those signals may reflect bullish short-term momentum.
Finally, NVDA is a highly active underlier in the options market. (Its average daily volume of 3.9 million contracts ranks first in the S&P 500, according to TradeStation data.) That could help traders take positions with calls and puts.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now！
You may also like
TIMBERCREEK FINANCIAL CORP <TF.TO>: TD COWEN CUTS TARGET PRICE TO C$5.5 FROM C$6
Reuters•2026/10/14 03:45
Venture Head Says Goldman and JPMorgan Are Becoming AI Stocks
BeInCrypto•2026/10/14 02:15
Can AAVE Price Reach $200 as V4 Deposits Top $300 Million?
Coinpedia•2026/10/13 23:12
BRIEF-Hub Cyber Security Appoints Richard Paolone And Joseph Tung To Its Board Of Directors
Reuters•2026/10/13 21:03
Crypto prices
More
Bitcoin
BTC
$83,591.48
+0.44%
Ethereum
ETH
$2,509.35
+0.15%
Tether USDt
USDT
$0.9992
+0.05%
BNB
BNB
$744.79
+0.33%
XRP
XRP
$1.37
+0.27%
USDC
USDC
$0.9999
+0.00%
Solana
SOL
$107.56
+0.01%
TRON
TRX
$0.3309
+0.38%
Zcash
ZEC
$1,265.29
+4.26%
Hyperliquid
HYPE
$82.23
-0.59%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now