Nvidia may rise to 1391.00 - 1449.00

Our pivot point is at 1106.

Our preference

The upside prevails as long as 1106 is support.

Alternative scenario

The downside breakout of 1106 would call for 1011 and 955.

Comment

The RSI is above 70. It could mean either that the stock is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 1046.5535 and 937.6898).

Supports and resistances

1508 **

1449 *

1391 **

1334

1208.88 (USD-last)

1142

1106 **

1011 *

955 **

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