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NVIDIA's $1K Threshold: Bulls Brace for the Grand Entrance

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BATS:NVDA   NVIDIA
What are all NVIDIA bulls waiting for? Of course, the $1,000 mark. As usual, the market enjoys making traders wait who have set their take profits at such iconic levels. After an initial attempt on March 8th, NVIDIA's stock once again fails to breach the $1,000 mark. However, it's clear: the market will eventually reach this milestone. And the breakthrough could be imminent. The VOLD indicates significant selling pressure without the price reaching new lows. These bullish divergences typically resolve with unexpected impulsive movements. At the same time, NVIDIA's stock price is in a crucial support area. Based on this analysis, we are opening a long position with a target price just shy of $1,000. We can set a relatively tight stop-loss level, providing us with a great risk-reward ratio of nearly 2.4:1 for this trade.
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