NVDA (Nvidia) Technical Analysis for October 3, 2024:

The Nvidia shows a corrective pullback that now seems to be attempting a rebound.

Key Levels:

Resistance:
$122.40 - A critical resistance level; Nvidia could see heavy selling here if it continues the upward movement.
$127.66 - A higher resistance, less likely to be tested unless the stock clears the previous key level at $122.40.

Support:

$117 - First line of support; previously tested.
$114.76 - Key structural support; breakdown here could open room for a deeper correction.

Price Action & Setup:

Nvidia has formed a descending wedge pattern, often indicative of a potential breakout.
Recent price action suggests Nvidia is testing resistance near $120.60, and a failure to break higher could result in a pullback to test lower levels around $117 or even $114.

Entry/Exit:

Entry: Potential short opportunity if the price fails to break $122.40. Alternatively, a break above $122.40 with momentum could offer a long setup, aiming for $127.60.

Exit: For shorts, target levels around $117 and $114. Long positions could take profit around $122-$127.