Published on Jun 21, 2024

Nvidia Stock Analysis | Is This The Top On Nvidia Stock? Nvidia Stock Price Prediction

Step-by-Step Guide:


Step-by-Step Tutorial: Analyzing Nvidia Stock and Making Price Predictions

Step 1: Introduction to Nvidia Stock Analysis

  • In this video, Junior Trader discusses the current status of Nvidia stock and whether it has reached its peak.
  • The analysis includes looking at technical indicators, price action, and potential scenarios for the stock's movement.

Step 2: Assessing Nvidia's Current Position

  • Junior Trader mentions that while there is a red candle in the recent trading session, the overall structure of Nvidia stock remains bullish.
  • The key support level to watch is $125.60, as long as the stock stays above this level, the bullish trend is intact.
  • Additionally, Nvidia is trading above its 20-day and 50-day moving averages, further supporting the bullish case.

Step 3: Intraday Trading Levels

  • The video discusses intraday trading levels and potential opportunities for short and long positions.
  • Specific price levels such as $138.51, $136.35, and $133.84 are highlighted as key areas to watch for intraday trading decisions.

Step 4: Identifying Support and Resistance Levels

  • Support levels at $131.89 and $125.64 are crucial for determining potential price movements.
  • Resistance levels at $133.79 and $136.33 are mentioned as areas where the stock may face selling pressure.

Step 5: Understanding Market Trends

  • Junior Trader emphasizes the importance of following the overall market trend and staying aligned with the stock's direction.
  • The video suggests that while short-term pullbacks may occur, the long-term trend for Nvidia remains bullish.

Step 6: Trading Strategies

  • The video discusses strategies for trading during distribution phases and potential opportunities for intraday trades.
  • It highlights the importance of adapting to market conditions and being nimble in trading decisions.

Step 7: Monitoring Price Action

  • Junior Trader recommends closely monitoring price action and being prepared for potential rebounds or sell-offs.
  • The video suggests that while the current structure remains bullish, changes in price behavior could indicate a shift in trend.

Step 8: Conclusion and Price Prediction

  • The video concludes with a reminder that the analysis presented is the opinion of the trader and not financial advice.
  • Junior Trader provides insights into potential scenarios for Nvidia stock, including the possibility of a distribution phase leading to a change in trend.

Step 9: Takeaways and Next Steps

  • Viewers are encouraged to conduct further research and analysis before making trading decisions.
  • Links to additional tools and resources are provided in the video description for those interested in further analysis.

Step 10: Closing Remarks

  • Junior Trader wraps up the video by inviting viewers to like the video if they found it helpful and to check out future content for more insights.
  • The video ends with a positive message and well wishes for viewers.

By following these steps and understanding the analysis provided in the video, viewers can gain valuable insights into Nvidia stock and make informed trading decisions based on the technical indicators and price action discussed.