In the ever-volatile world of technology stocks, NVIDIA has captured significant attention, especially with the recent fluctuations in its share price. As of Monday, April 28, 2025, traders are keenly analyzing the charts to identify potential support and resistance levels that could dictate the stock’s movement in the upcoming days and weeks. Understanding these levels is crucial for both short-term and long-term investors looking to navigate NVIDIA’s stock performance.
This analysis will break down key price points and the implications for traders, focusing on the critical levels to watch as we move through this week and beyond.
Current Price Dynamics
NVIDIA’s stock has been operating within a defined channel, with the lower boundary set at 111.64 for the week. The daily trading range shows that the stock closed just below the pivotal level of 111.13 last Friday. This price point now serves as a crucial resistance ceiling. Traders have seen movements above this level in the past weeks, but the recent action suggests a need for caution.
As the charts indicate, the stock is currently forming a narrowing range, with 111.13 on the daily chart being the starting point, extending up to 114.65. This upper limit marks a three-month descending channel top, which has historically contained both weekly and monthly highs. The significance of this resistance zone cannot be overstated, especially as we approach potential buying pressures through May.
Short-Term Trading Strategies
For traders looking at a shorter time frame, a close above 114.65 could signal an upward trend into the mid to upper 120s, specifically targeting levels between 125.82 and 127.72. This scenario could present a viable swing trade opportunity over the next few days, provided volatility remains low.
However, caution is warranted. If the stock fails to maintain its momentum and closes below 104.77, we may quickly see a decline towards 99.44, which could act as an intraday support level. A sustained drop below this threshold would likely indicate a more bearish trend, with projections suggesting a potential move towards the low 80s over the next few weeks.
Key Levels to Monitor
- Resistance Levels: 111.13, 114.65
- Support Levels: 104.77, 99.44, 90.69
- Long-Term Bullish Trend: Above 80.75
Long-Term Outlook
Despite the recent volatility, NVIDIA’s long-term trend remains bullish as long as it stays above the 80.75 mark. The sell-off witnessed recently appears to be a near to mid-term dynamic rather than an indication of longer-term bearishness. If the stock closes above 125.79 at the end of the week, it could reaffirm the bullish sentiment, setting the stage for a significant uptrend towards the upper 160s over the next three to five months.
In the current market environment, traders should be prepared for potential swings in either direction. The narrowing channel structure suggests that clearer trading opportunities will arise as the price action converges over the next month and a half.
Conclusion
In summary, NVIDIA’s stock is at a pivotal junction. With critical resistance at 114.65 and support levels around 104.77 and 99.44, traders must remain vigilant. The potential for both short-term trading opportunities and long-term bullish movements exists, but it hinges on the stock’s ability to close above key levels. As we progress through this week, keeping an eye on these price points will be essential for making informed trading decisions.
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Credit: Wicked Stocks
