Trading Nvidia $NVDA With Integrated Risk Controls

August 08, 2023, 12:13 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Nvidia (NASDAQ: NVDA) report below can help you, but we have more details too. The trading plans for NVDA, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for NVDA

• Buy NVDA slightly over 412.23 target 473.11 stop loss @ 411.04 Details

The technical summary data tells us to buy NVDA near 412.23 with an upside target of 473.11. This data also tells us to set a stop loss @ 411.04 to protect against excessive loss in case the stock begins to move against the trade. 412.23 is the first level of support below 444.405 , and by rule, any test of support is a buy signal. In this case, support 412.23 is being tested, a buy signal would exist.

• Short NVDA slightly under 473.11, target 412.23, stop loss @ 474.48 Details

The technical summary data is suggesting a short of NVDA as it gets near 473.11 with a downside target of 412.23. We should have a stop loss in place at 474.48though. 473.11 is the first level of resistance above 444.405, and by rule, any test of resistance is a short signal. In this case, if resistance 473.11 is being tested, a short signal would exist.

Swing Trading Plans for NVDA

• Buy NVDA slightly over 444.64, target 465.40, Stop Loss @ 443.36 Details

If 444.64 begins to break higher, the technical summary data tells us to buy NVDA just slightly over 444.64, with an upside target of 465.40. The data also tells us to set a stop loss @ 443.36 in case the stock turns against the trade. 444.64 is the first level of resistance above 444.405, and by rule, any break above resistance is a buy signal. In this case, 444.64, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NVDA slightly near 444.64, target 412.23, Stop Loss @ 445.92. Details

The technical summary data is suggesting a short of NVDA if it tests 444.64 with a downside target of 412.23. We should have a stop loss in place at 445.92 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 444.64, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for NVDA

• Buy NVDA slightly over 444.64, target 449.17, Stop Loss @ 443.6 Details

If 444.64 begins to break higher, the technical summary data tells us to buy NVDA just slightly over 444.64, with an upside target of 449.17. The data also tells us to set a stop loss @ 443.6 in case the stock turns against the trade. 444.64 is the first level of resistance above 444.405, and by rule, any break above resistance is a buy signal. In this case, 444.64, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short NVDA slightly near 444.64, target 435.15, Stop Loss @ 445.68. Details

The technical summary data is suggesting a short of NVDA if it tests 444.64 with a downside target of 435.15. We should have a stop loss in place at 445.68 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 444.64, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

NVDA Ratings for August 08:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	354.81
P2	435.15	444.64	412.23
P3	449.17	465.40	473.11

Support and Resistance Plot Chart for NVDA

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