February 26 Chart of the Day - Nvidia
Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews
Nvidia (NVDA) by far has been the most requested chart in a very long time. Most likely because they report earnings after the closing bell today.
We intentionally waited until the last few hours of regular trading hours (RTH) so as to obtain the latest at the money straddle options cost to determine what move the market is anticipating in either direction by the end of this week.
So with that in mind we're going to just cut to the chase and provide you the monthly and weekly charts with the levels of interest of where price could go based on price action technical analysis.
We have featured over 425+ Charts of the Day since May 2023 and teach Price Action Trading for FREE to traders who join our Highly Rated Trade Room.
Monthly Chart
Weekly Chart
Trading around $129.50 earlier today the market is implying about a $12.40 move in either direction as marked on the chart by this Friday February 28. Share price has risen during the week of earnings 6 of the last 8 quarters.
Could earnings be the catalyst that pushes price back up towards its all time high or will price fade back to the downside again?
Only time will tell for sure what price will do next...
We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.
Armed with precision oriented charts like these both traders and investors can formulate their respective plans.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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