Technical analysis by bwy about Symbol NVDAX: Buy recommendation (11/5/2025)

Nvidia is forming new major support at $199. Target $340 by October 2026. Good luck!Nasdaq 100 hit major 26,000 support moments ago. SOX as well. Likely scenario is it should lift almost everything semiconductor from here.Correction: those major supports were 25,200 on NDX and 6,975 on SOX. Not sure how I transposed 26000 lol.I don't know for sure, but 180.1 is minor support that could get hit here if it keeps falling. There should be lots of liquidity there.Nasdaq 100 is panic moving below support this morning. Friday is often the final fear moves. Should get lifted well off support next week.180.1 hit, should be more than enough bids to lift back up to 199 from here.Looks to be holding. Great buy area for short term options if you're interest. Should hit 199 within 2 weeks.