NVDA at a Make-or-Break Level. TA for Aug. 6NVIDIA CorporationBATS:NVDABullBearInsights🚀 NVDA at a Make-or-Break Level — Key GEX & Price Action Signals Technical Overview (1H Chart)
NVDA is currently trading around 177.15, sitting just under the 180 psychological and technical resistance. Price action remains inside a descending channel, with sellers defending the 180 level while buyers have been active near 175.
The recent bounce from 170.80 aligns with the bottom channel support, but the lack of strong follow-through shows hesitation ahead of heavy resistance. Gamma Exposure (GEX) Insights * Major Call Walls: * 180 → Highest positive GEX & Gamma Wall resistance. * 184.09–185 → 2nd Call Wall cluster, significant dealer hedging pressure if broken. * Put Support Zones: * 175 → Strong GEX-based put support; losing this could accelerate downside. * 170.80 → Major pivot & prior low, last strong GEX defense. * Dealers are positioned in a way that staying below 180 keeps upside contained, while a clear breakout above 180 could trigger dealer covering and a squeeze toward 184–185. Momentum & Oscillators * MACD → Bearish momentum cooling off but still in the red, suggesting consolidation. * Stoch RSI → Oversold zone, signaling potential short-term bounce attempt. Trade Scenarios * Bullish Case: Break & hold above 180 opens the door for 184–185 retest. Option traders could target near-term calls above 180 with tight stops. * Bearish Case: Rejection at 180 and drop back under 175 could lead to 170.80 retest. Ideal for puts targeting 175 → 171 zone. Options Trading Thoughts (Based on GEX) * Preferred Bullish Setup: Wait for confirmed breakout over 180 → Calls targeting 184 strike, short expiry for momentum. * Preferred Bearish Setup: Puts if rejection at 180 holds & price slips below 175, targeting 172–171 zone. Disclaimer: This analysis is for educational purposes only and not financial advice. Always manage your risk.