NVIDIA
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Breakout Range Trade Idea

Trade Idea: Bullish Breakout in Nvidia

Nvidia shares have surpassed the $1,000 mark, driven by a strong earnings report and a 10-for-1 stock split announcement. The stock has been in a long-term uptrend since the 50-day MA crossed above the 200-day MA last January.

Breakout Range Bullish Trade

A breakout range bullish trade occurs when a stock moves above resistance after consolidation, signaling potential for further gains. Nvidia recently broke out from a three-month consolidation to a new all-time high.

Price Target

With trading volumes decreasing since Nvidia's $974 high in March and the breakout now confirmed, traders can project a price target by adding the $210 consolidation range to the $969 breakout point, aiming for $1,179.

Conclusion

Nvidia's breakout, supported by strong fundamentals, presents a promising bullish trade opportunity with a price target of $1,179.
Trend Analysis

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