Technical analysis by franklyfresh about Symbol NVDAX: Buy recommendation (3/14/2025)

NVDA has been respecting this bearish channel since Nov '24 with 5 touches on the lower trendline and 4 touches on the upper. NVDA most recently bounced off the lower support, making the 5th touch, and gapped up with the indicies to reclaim the midpoint of the channel. With the midline acting as support, movement towards the upside of $127-$130 is much more likely. Significant resistance might be met at the $125-$126 level but past that the runway is relatively clear for full retracement of the structure. Structure trade can be easily invalidated by broader macro factors, tariff revisions, & tweets.