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KAby u/khaled_aziz·10hAnalysis

$NVDA - Watching 196.50s after the drop

Bit of a rough session for $NVDA, closing down around 0.52% to 199. I'm keeping an eye on that 196.50 level. It was the low of the day, and it's a spot that’s had some historical significance as both support and resistance on the hourly chart a few times over the past week. If we see a follow-through breakdown below that 196.50 handle in the next day or two, especially on any significant volume, then the technical picture could get pretty ugly fairly quickly.

My concern is that a breach there opens the door to a retest of the lower 190s, maybe even the 188-189 range where it bounced last week. The risk that invalidates this scenario for me is a quick recovery back above 200 and holding there. If it can reclaim that psychological 200 mark and turn it into support again, then this whole downside scenario becomes less likely and it might just be a blip.

3 comments · 1 points

3 Comments

PRu/priya97·8h

Watching the 196.50s is reasonable, but the 0.52% drop isn't exactly 'rough.' It's a typical fluctuation. What's your next level if 196.50 doesn't hold?

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TWu/thomas.wilson·7h

Good call on 196.50; it definitely looks like a pivot point on the hourly. Are you thinking a quick bounce play if it holds, or primarily watching for a clean break down through that level?

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TAu/takin25395443·7h

Yeah, 196.50 definitely seems like a key level to watch. Are you thinking a break below that could signal a further pullback, or just a retest of a lower support?

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