NVIDIA is reaching a strong upside resistance of 137. This is a strong resistance for a continuation higher and a test of 180, which is the top of the long-term upside channel. As we are expecting earnings release next week, it is of great importance to use technical analysis properly for options trading. If you want to buy put options, you need to find a perfect reversal price action. Learn to Trade Stocks profitably.
The NVIDIA weekly chart is revealing a consolidation wedge, which can be bullish, but with a new swing down possibility near-term, as the 137 resistance is pretty strong based on the historical price action in 2024. We need to see a break above this level for a continuation higher and buy call options trades. Reversal from here favors buying put options.
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How can we trade this?
It is a fact that a strong upside resistance for Q2 2025 is 137, and if we get a confirmation of a reversal higher and a sustained extension above it, we could see a strong upside continuation to 180. You can try buying put options with a 130 strike. A break below 130 will lead to a complete reversal lower targeting 120, and will give you huge gains on put options. Grab the options course for a $150 discount till Monday and get a free unusualwhales.com subscription when registered. For inquiries about account management or copy trading, please write to [email protected] or contact me on WhatsApp or Live chat.
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