Chart of the day

NVDA is testing the 960 level now a strong resistance for an upside continuation and a broadening wedge line. A break above this level will mean that the long-term five waves are not finished and that we could see a new extension higher. Rejection here will lead to a downside correction which is much needed as the stock price increased 83% in 2024.

Only in the case of a break above 1000, we can expect an upside continuation and an extension higher in a new uptrend. I strongly believe that the whole stock market is reaching the top and that we will see a reversal here to test 650. For this to happen we need to see a break below 910.

_{You can open a short trade entry here or upon a break below 910 with a stop loss just above 1000. Long trades you can open upon a confirmed break above 1000.}