How To Trade (NVDA)

July 28, 2024, 12:52 pm ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for NVDA

• Buy NVDA slightly over 100.62 target 118.58 stop loss @ 100.33 Details

The technical summary data tells us to buy NVDA near 100.62 with an upside target of 118.58. This data also tells us to set a stop loss @ 100.33 to protect against excessive loss in case the stock begins to move against the trade. 100.62 is the first level of support below 113.06 , and by rule, any test of support is a buy signal. In this case, support 100.62 would be being tested, so a buy signal would exist.

• Short NVDA slightly under 118.58, target 100.62, stop loss @ 118.92 Details

The technical summary data is suggesting a short of NVDA as it gets near 118.58 with a downside target of 100.62. We should have a stop loss in place at 118.92though. 118.58 is the first level of resistance above 113.06, and by rule, any test of resistance is a short signal. In this case, if resistance 118.58 is being tested, so a short signal would exist.

Swing Trading Plans for NVDA

• Buy NVDA slightly over 116.87, target 118.58, Stop Loss @ 116.53 Details

If 116.87 begins to break higher, the technical summary data tells us to buy NVDA just slightly over 116.87, with an upside target of 118.58. The data also tells us to set a stop loss @ 116.53 in case the stock turns against the trade. 116.87 is the first level of resistance above 113.06, and by rule, any break above resistance is a buy signal. In this case, 116.87, 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 116.87, target 109.65, Stop Loss @ 117.21. Details

The technical summary data is suggesting a short of NVDA if it tests 116.87 with a downside target of 109.65. We should have a stop loss in place at 117.21 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, 116.87, 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 113.68, target 116.87, Stop Loss @ 113.41 Details

If 113.68 begins to break higher, the technical summary data tells us to buy NVDA just slightly over 113.68, with an upside target of 116.87. The data also tells us to set a stop loss @ 113.41 in case the stock turns against the trade. 113.68 is the first level of resistance above 113.06, and by rule, any break above resistance is a buy signal. In this case, 113.68, 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 113.68, target 109.65, Stop Loss @ 113.95. Details

The technical summary data is suggesting a short of NVDA if it tests 113.68 with a downside target of 109.65. We should have a stop loss in place at 113.95 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, 113.68, 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.

Check the time stamp on this data. Updated AI-Generated Signals for Nvidia Corporation (NVDA) available here: NVDA.

NVDA Ratings for July 28:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	100.62
P2	108.87	109.65	118.58
P3	113.68	116.87	142.38

AI Generated Signals for NVDA

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This report provides trading strategies for Nvidia Corporation (NASDAQ: NVDA) while incorporating risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for NVDA change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if NVDA is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for NVDA too.  All of these are offered below the Summary Table.