NVDA's Floor Reversal Cleared Its Doubt Over The Weekend.
NVDA held the 191.23 floor a third time last week and opens the new week at 195.45 with the reversal read finally firming. The bounce that kept getting flagged as suspect has dropped that warning, and the underlying conviction on the hourly just spiked to its maximum bullish reading. The daily flipped to a long stance at the floor and is holding it. After weeks of the sellers running the show, the buy side has the cleaner read for the first time - it just has to prove it on price.
Resistance: 196.18-196.8 - the shelf right above price
Key resistance: 198.47-199.89 - the band that rejected the last bounce
Current price: 195.45
Support: 194.41 - first support below
Key support: 191.23 - the April floor, held three times
Structural floor: 189.80 - the June sweep low
Two paths from here:
The reversal confirms on price. The hourly bull read cleared its anti-signal and the surface conviction hit its ceiling at a full 100, the strongest bullish reading on the stock this stretch. A push through 196.8 then 198.47 would validate the triple-defense of 191.23 as the cycle bottom. What is still missing is volume - Vol Elev sits at the 29th, so the read is loaded but the participation to drive it has not shown up.
The strength fades under resistance again. The last two bounces both died in the 198.47-199.89 band, and the daily bear print is still technically on the board underneath the fresh long read. If price stalls under 196.8 and rolls, 194.41 gives way to a fourth test of 191.23 - and a floor tested that many times starts to look like it breaks rather than holds.
The reversal off 191.23 has done something the last two failed bounces never did - cleared its anti-signal and pushed the surface conviction to a maximum. That is the strongest the long side has looked all cycle. But the same 198.47-199.89 band has rejected every attempt so far, and none of it matters without volume. Price has to carry it now.
Built with SYNTHESIS v3.3 | SOM / ACE / IMP / SYNTHESIS
Study, not financial advice.
NVDA held the 191.23 floor a third time last week and opens the new week at 195.45 with the reversal read finally firming. The bounce that kept getting flagged as suspect has dropped that warning, and the underlying conviction on the hourly just spiked to its maximum bullish reading. The daily flipped to a long stance at the floor and is holding it. After weeks of the sellers running the show, the buy side has the cleaner read for the first time - it just has to prove it on price.
Resistance: 196.18-196.8 - the shelf right above price
Key resistance: 198.47-199.89 - the band that rejected the last bounce
Current price: 195.45
Support: 194.41 - first support below
Key support: 191.23 - the April floor, held three times
Structural floor: 189.80 - the June sweep low
Two paths from here:
The reversal confirms on price. The hourly bull read cleared its anti-signal and the surface conviction hit its ceiling at a full 100, the strongest bullish reading on the stock this stretch. A push through 196.8 then 198.47 would validate the triple-defense of 191.23 as the cycle bottom. What is still missing is volume - Vol Elev sits at the 29th, so the read is loaded but the participation to drive it has not shown up.
The strength fades under resistance again. The last two bounces both died in the 198.47-199.89 band, and the daily bear print is still technically on the board underneath the fresh long read. If price stalls under 196.8 and rolls, 194.41 gives way to a fourth test of 191.23 - and a floor tested that many times starts to look like it breaks rather than holds.
The reversal off 191.23 has done something the last two failed bounces never did - cleared its anti-signal and pushed the surface conviction to a maximum. That is the strongest the long side has looked all cycle. But the same 198.47-199.89 band has rejected every attempt so far, and none of it matters without volume. Price has to carry it now.
Built with SYNTHESIS v3.3 | SOM / ACE / IMP / SYNTHESIS
Study, not financial advice.
Mapping macro structure, custom indicators, and radial geometry.
📊 View my published scripts: tradingview.com/u/virDeStratera/
📊 View my published scripts: tradingview.com/u/virDeStratera/
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Mapping macro structure, custom indicators, and radial geometry.
📊 View my published scripts: tradingview.com/u/virDeStratera/
📊 View my published scripts: tradingview.com/u/virDeStratera/
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.