Nvidia may rise to 1247.00 - 1308.00

953 is our pivot point.

Our preference

The upside prevails as long as 953 is support.

Alternative scenario

The downside breakout of 953 would call for 854 and 795.

Comment

The RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 921.072 and 892.6851). Finally, Nvidia is trading above its upper Bollinger band (standing at 1032.5).

Supports and resistances

1368 **

1308 *

1247 **

1186

1064.69 (USD-last)

991

953 **

854 *

795 **

Number of asterisks represents the strength of support and resistance levels.