Nvidia after earnings report - reached my target at 139-143.
In my Chart Outlook of May 19, 2025, I stated: “Nvidia could be forming a one-year head and shoulder top. It has major resistance at 139 to 142. A break upwards could activate the next resistances at 154 or 170 to 177. Equally likely is that sell signals are triggered with the break of the supports at 120, 110 and 95.”
Today, May 29, Nvidia jumped to a new short-term high at 143.49. This is marginally higher than the resistance, which I had projected at 139-142. But, the level 142 was broken only intraday and with the present short-term correction, I still see the resistance 139 to 142 as unbroken. In fact, Nvidia would trigger SELL signals if the supports are broken at 138-137 and 134. Next supports are at 128, 121-118 and 108-102.
I would ADD to the position or BUY only if the resistance at 142.50-144 is broken with a stop of 8%.