### **NVDA Stock Analysis: Monthly and Weekly Time Frames**
Hello traders, let’s dive into an analysis of NVDA stock across multiple time frames.
- **Monthly and Weekly Charts:**
Currently, there are no clear buy or sell signals in the monthly and weekly time frames. The price action appears neutral, suggesting a period of consolidation or indecision in the broader market.
### **Daily Time Frame: Selling Opportunities Emerge**
The daily chart, however, tells a different story. Here’s what we’re observing:
1. **Gap Down and Vacuum Order Block Formation:**
- A significant **gap down** has occurred, creating a vacuum order block.
- The market has now reached the **midpoint of this vacuum order block**, a critical level that often acts as a pivot point for price reversals.
2. **Potential Downside Targets:**
- The current price is hovering around **$133.5**.
- Based on the structure of the vacuum order block, there’s a high probability that the price could decline further, potentially targeting the **$104 level**.
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### **Key Levels to Watch**
- **Resistance:** $133.5 (current price level).
- **Support:** $104 (potential downside target).
Traders should monitor these levels closely, as a break below the midpoint of the vacuum order block could confirm the bearish momentum.
### **Why This Matters**
- **Risk Management:** Identifying key levels like the vacuum order block midpoint helps traders plan entries and exits with precision.
- **Market Psychology:** Gaps and vacuum order blocks often indicate shifts in market sentiment, providing opportunities for strategic trades.
### **Conclusion**
While NVDA stock shows neutrality in the monthly and weekly time frames, the daily chart reveals a compelling selling opportunity. With the price at $133.5 and a potential downside target of $104, traders should remain vigilant and consider risk management strategies to capitalize on this setup.
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