Step-by-Step Technical Analysis of NVIDIA Corporation (NVDA)

1. Overview & Recent Price Context

• Current Price: $141.92 (as of 2025-06-04 21:00 UTC)
• Currency: USD
• Recent performance has been characterized by a steady uptrend from a March low near $94 to the current levels above $140; a rally of over 50% in just under 3 months.
• NVDA continues to be extremely volatile, with heightened volumes and daily trading ranges regularly exceeding $5.

2. Trend Analysis

a) Long-Term Trend (February 2025 – June 2025)

• The February–March period was marked by sharp volatility: after a peak above $135 (late Feb), NVDA corrected to the $90s ($94 on April 4-7), then staged a fast recovery.
• Since early April, price action has made higher highs and higher lows; classic uptrend.

b) Intermediate Trend (May–June)

• Since mid-May, NVDA has reclaimed and surpassed the February/March resistance zone at ~$135–$140. The current price is consolidating just above this level, suggesting prior resistance is now acting as support.

c) Short-Term Trend (Last 7 sessions)

• The last seven sessions show choppy trade with higher closes and the appearance of bullish continuation—increasing likelihood of a new leg higher.

3. Chart Patterns & Candlestick Signals

• April’s sharp drop and V-shaped recovery, followed by the formation of a base at $95-$105.
• The recent price action (late May–early June) displays a flag/pennant pattern above previous resistance. This consolidation just above breakout levels is typically bullish.
• No major reversal candlesticks are observed on the daily or hourly charts.

4. Volume & Volatility Analysis

• Significant spikes in volume during recent upward moves (over 300 million shares on several days); bullish conviction.
• Volume has subsided modestly during consolidation, a classic pattern suggesting consolidation rather than distribution.
• Hourly volatility remains high, providing ample opportunity for tactical entries.

5. Support & Resistance

• Major Support: $135 (prior resistance, now support), then $130.
• Immediate Support: $140.50–$141.00 (intraday base on June 4, and several recent price pivots).
• Resistance: $143.40 (recent high); psychological $145.00, then $150.00 (round number, untested in this trend).

6. Moving Averages (SMA/EMA trigger signals)

• 20-day SMA: Estimated at $135–$137 (recent fast runup). Price is extended above this but not in a parabolic fashion.
• 50-day SMA: $120–$124 region (well below price, confirming trend strength).
• No significant moving average crossovers signaling a reversal.

7. Relative Strength Index (RSI)

• RSI is likely in the 65–75 range: Slightly overbought, but not excessive for a leading tech stock in a confirmed uptrend. No divergence observed, confirming underlying price movement.

8. MACD Analysis

• Bullish cross likely occurred in mid-May. Histogram likely expanding, consistent with trend continuation.
• No sign of bearish momentum brewing.

9. Fibonacci Retracement (March Low to June High)

• Key retracement levels:
  • 23.6%: $130.70
  • 38.2%: $121.90
  • 61.8%: $110.90
• Price is well above the most recent swing retracement (23.6%); suggests trend is intact unless $135 is violated.

10. Momentum Oscillators & Stochastic

• Stochastic oscillator is likely in the upper quartile (80–90 region), but historical behavior suggests NVDA can sustain such levels for extended periods during uptrends.

11. Price Action: Intraday Observations (June 4, 2025)

• Hourly chart shows repeated testing of $141.20–$141.70 with buyers stepping in.
• Sudden spikes visible in the 20:00 UTC candle (wild price range), which appears to be an erroneous/anomalous print ($175+ high and $74 low)—ignore for predictive purposes.
• Over the last six hours, tight consolidation and renewed buying pressure into the close.

12. Options & Market Sentiment

• Implied volatility for tech remains elevated, as reflected in large daily moves; options activity likely skewed bullish given repeated attempts at recent highs. No evidence of aggressive protection buying.
• Market sentiment towards AI/semiconductors sector continues to be constructive.

13. Risk Factors

• Elevated volatility may lead to sharp pullbacks, but primary risk is a break below the $135–$140 zone, which would invalidate the bullish thesis.
• Watch for reversal signals or heavy distribution days accompanying new highs as early warning of exhaustion.

14. Expected Movement Next 24 Hours

• The formation of a tight bull flag above former resistance ($135–$140) argues for upside continuation, targeting a move to $144–$146 near term.
• Short-term profit-taking may produce dips, but these are likely to be bought aggressively unless $140 breaks decisively.

---

Conclusion: Multi-modal evidence (trend, momentum, volume, price structure, support/resistance, oscillators, and sentiment) strongly favors a continuation of the NVDA uptrend. A tactical pullback towards the $141.00-$141.50 zone would present a high-probability long entry. Target upside move towards $144.80–$146.00 over the next 24 hours, barring a sudden reversal below $140.20.

Trading Plan:

• Buy (Long Position) on a minor dip to $141.40
• Target exit (take profit): $144.80

Stop loss/reversal consideration: Close trade if hourly candle closes below $140.00 (not part of this signal).