NVDA at Critical Support: Will the Uptrend Hold?

Technical Analysis of NVIDIA ( $NVIDIA(NVDA)$ ) Stock

1. Support at the Equidistant Channel

The chart shows NVIDIA (NVDA) trading within an upward equidistant channel since early 2023.
Price has recently declined to the lower boundary of the channel, suggesting potential support. Low of the channel is around $105 which I had mentioned earlier in this article on 5 March 2025.
This support level has been tested multiple times in the past, reinforcing its strength as a dynamic support zone.

2. Potential Price Reaction at Support

A bounce from the lower channel boundary could indicate a continuation of the broader uptrend.
If buyers step in at this level, price may attempt to retest the mid-channel resistance or move higher towards the upper boundary.
However, a confirmed break below the channel could signal a trend shift, leading to further downside pressure.

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3. Volume Analysis

The volume profile shows a recent increase in selling pressure, but a support test with declining volume could suggest exhaustion of sellers.
If volume starts to pick up alongside a price rebound, it may confirm bullish interest at this support zone.

4. Key Resistance Levels to Watch

Mid-Channel Resistance (~$130-$140) – If price bounces, this level could act as a short-term target.
Upper Channel Resistance (~$160-$170) – This remains a longer-term bullish target if the stock continues to trend higher.

5. Trading the Pattern Using DLCs

Traders can use Daily Leverage Certificates (DLCs) to take advantage of the potential price movements:
Bullish Scenario: If price shows bullish confirmation at support, traders may consider long DLCs $NVDA 3xLongSG261006(NVIW.SI)$
Bearish Scenario: A breakdown below the channel could trigger short DLCs $NVDA 3xShortSG261006(NVDW.SI)$

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Disclaimer:

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This advertisement has not been reviewed by the Monetary Authority of Singapore. This post is sponsored by Societe Generale, Singapore Branch. The content of this article does not form part of any offer or invitation to buy or sell any daily leverage certificates (the “DLCs”), and nothing herein should be considered as financial advice or recommendation. The price may rise and fall in value rapidly and holders may lose all of their investment. Any past performance is not indicative of future performance. Investments in DLCs carry significant risks, please see dlc.socgen.com for further information and relevant risks. The DLCs are for specified investment products (SIP) qualified investors only.

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