NVDA at a Key Level! Trade Setups and GEX Insights for Dec. 18
1. Daily Chart Overview (1D)
* Trend: NVDA has been in a strong downward move but is currently showing signs of potential consolidation after hitting a low of 126.86.
* Support/Resistance:
* Immediate resistance: 132.55 – a psychological level for a potential breakout.
* Major support: 126.86 – a key area where buyers have stepped in.
* Volume: The volume has been increasing, suggesting a possible reversal attempt if bulls take control.
* Indicators:
* MACD: Showing a potential bullish crossover, signaling a momentum shift.
* EMA: Price is approaching the 9 EMA. A close above the 9 EMA could validate a reversal toward higher resistance levels.
2. Hourly Chart Overview (1H)
* Trend: NVDA broke out of a falling wedge pattern, which is a bullish reversal signal.
* Key Levels:
* Support: 130 – the breakout level of the wedge.
* Resistance: 134 – target area where sellers could return.
* Volume: Increasing volume confirms buyer strength near the wedge breakout.
* MACD: Positive divergence indicates upside momentum aligning with the breakout signal.
Gamma Exposure (GEX) Insights
* Key GEX Levels:
* 135: Highest positive Gamma (CALL Wall), acting as strong resistance.
* 128: PUT Support (negative gamma), which served as a critical support level.
* Gamma Activity:
* CALL walls dominate above 135 and 140, signaling heavy hedging activity and potential upward momentum.
* Strong PUT walls at 128 and 124 show where buyers previously defended NVDA.
* Options Oscillator Metrics:
* IVR: 29.7% (implying moderately elevated volatility).
* IVx: 51.8% (implied move for the week).
* CALLs: 64% of the volume.
* GEX: Bullish bias, indicating a potential move higher if price holds above key levels.
Trade Setups
1. Intraday Scalping
* Entry: Long above 130.50 with confirmation.
* Target: 132.50–133.00.
* Stop-Loss: Below 129.00.
2. Swing Trade Setup
* Entry: Long on a confirmed break of 132.55.
* Target: 135.00–140.00 (CALL walls).
* Stop-Loss: Below 130.00 (support zone).
Conclusion
NVDA is showing bullish signs after breaking out of a falling wedge pattern. With support from rising volume, bullish momentum on MACD, and key GEX levels indicating resistance at 135, traders can look for a potential short-term upside move. Key levels to watch are 130–135, with stops placed strategically to manage risk.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
Let me know if you need further adjustments! 🚀
* Trend: NVDA has been in a strong downward move but is currently showing signs of potential consolidation after hitting a low of 126.86.
* Support/Resistance:
* Immediate resistance: 132.55 – a psychological level for a potential breakout.
* Major support: 126.86 – a key area where buyers have stepped in.
* Volume: The volume has been increasing, suggesting a possible reversal attempt if bulls take control.
* Indicators:
* MACD: Showing a potential bullish crossover, signaling a momentum shift.
* EMA: Price is approaching the 9 EMA. A close above the 9 EMA could validate a reversal toward higher resistance levels.
2. Hourly Chart Overview (1H)
* Trend: NVDA broke out of a falling wedge pattern, which is a bullish reversal signal.
* Key Levels:
* Support: 130 – the breakout level of the wedge.
* Resistance: 134 – target area where sellers could return.
* Volume: Increasing volume confirms buyer strength near the wedge breakout.
* MACD: Positive divergence indicates upside momentum aligning with the breakout signal.
Gamma Exposure (GEX) Insights
* Key GEX Levels:
* 135: Highest positive Gamma (CALL Wall), acting as strong resistance.
* 128: PUT Support (negative gamma), which served as a critical support level.
* Gamma Activity:
* CALL walls dominate above 135 and 140, signaling heavy hedging activity and potential upward momentum.
* Strong PUT walls at 128 and 124 show where buyers previously defended NVDA.
* Options Oscillator Metrics:
* IVR: 29.7% (implying moderately elevated volatility).
* IVx: 51.8% (implied move for the week).
* CALLs: 64% of the volume.
* GEX: Bullish bias, indicating a potential move higher if price holds above key levels.
Trade Setups
1. Intraday Scalping
* Entry: Long above 130.50 with confirmation.
* Target: 132.50–133.00.
* Stop-Loss: Below 129.00.
2. Swing Trade Setup
* Entry: Long on a confirmed break of 132.55.
* Target: 135.00–140.00 (CALL walls).
* Stop-Loss: Below 130.00 (support zone).
Conclusion
NVDA is showing bullish signs after breaking out of a falling wedge pattern. With support from rising volume, bullish momentum on MACD, and key GEX levels indicating resistance at 135, traders can look for a potential short-term upside move. Key levels to watch are 130–135, with stops placed strategically to manage risk.
Disclaimer
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage your risk before trading.
Let me know if you need further adjustments! 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.