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active investor here bringing you another independent analysis this time we're taking a look at tier symbol nvda that's Nvidia core the chart we have today is a one- day chart each candles stick on this chart representing one day of trading and this stock is an absolute Beast you have two groups of people really with sentiments on this stock you have one group who is going to hold it for a long long time with no plans on selling it and then you have the other group of people who are the doubters who say man this stock has been running and it's got to pull back and you know what they've been saying that for weeks and guess what Nvidia has been doing this whole time they've been saying that it's been making more and more lifetime highs now I'm not going to be biased towards either side obviously in the market anything can happen but based on the data that we have now I will tell you my sentiments in just a moment and I'll give you my reason reasoning for them as well but before that let's take a look at our pivot Points so we have resistance at $47.76 that's going to be this white line here at the Top If we can break that we can test that 4777 right above it which is the current lifetime high of Nvidia never been higher than that for support we have $468 right here below it that white line and the final white line down there is $465 obviously there's more support on the way down but not really relevant in the grand scheme of things right now since the current trading range that we're at is pretty much right at $47.25 so no reason to really look at the support further down below and if you can guess my sentiments now since I'm telling you that the closest support that I'm looking at is 4680 and 4605 well yes you're right I'm looking to say that Nvidia is going to keep on running so we're doing this with a different set of indicators than my recent videos instead of our simple moving averages I think that ichim maku tells us a great story of Nvidia let me give you guys a brief overview of the ichim maku cloud if you're not familiar with it so we have the cloud down here then we have the tenkin line which is this blue line that's the bullish line and the kaijun which is this orange line that's our bearish line when the blue tenkin is above the orange kaan that's considered bullish most specifically when we have the tenkin cross the kaion that's a bullish signal or a buying signal so we had that signal here incidentally enough we had all that volume and a nice green candle boosting our price up from right about $36 all the way to about $41 right where we had that tank and cross so that makes perfect sense now what is this Cloud that cloud can act as trailing support and it's saying that our support's all the way down here which you might think is bad but the other indicator of the cloud is that the more space above the cloud the stronger the uptrend and on the opposite side of the coin if we're below the cloud the more space below the cloud the stronger the downtrend so you can see that with all the space above the cloud this uptrend is absolutely insane now the cloud also predicts the future as you can see there's no data here in terms of candles we only have the cloud that's the cloud predicting the future movement of the stock and you can see where we're currently trading here it's predicting that we have support all the way down here but look it's telling us that support is going to be raising so the cloud is telling us that it thinks that Nvidia is going to keep on running but the cloud doesn't know everything let's take a look at the rest of our indicators as well but before we do that or rather while we do that I would just like to say one thing to the people that were doubting Nvidia or are doubting Nvidia and that's if Nvidia was going to pull back the time for it to have pulled back was 3 days ago so today is Wednesday so that would have been uh last week or even Monday if it was going to pull back that's when it really had to pull back and actually you know what even Monday even Monday was too late so basically this entire week um nvidia's just kind of been killing it the reason I'm saying that it had to have pulled back last week is because last week was the last time that we were below the blue bullish tenkin line if we're below the tenkin line that's when we can see a drop in price if we're above the tenkin line like we were over here that's when we can see a runin price EX for example take a look over here at these candles you can see once we broke down below the tenin line that's when we started to fall off in price and once the tenin crossed the kaen and our candles crossed the tenkin and the kaen that's when we had that run so last week is when we crossed below the tenkin but our support around $46 was so powerful that we barely near fell off when we fell below the tenkin and now these last two candles were so bullish that we broke above the tenin again so pullback is not looking like it will happen it looks more like Nvidia will continue to run and if you don't believe the the kaijen the tenkin the cloud if that's not enough for you if the candles aren't enough for you these last two candles being so bullish the cloud the tenken the kaijun looking so bullish our candles you know everything thing looking so bullish we can take a look down here at the rela strength index as well what's the RSI telling us well the RSI is also telling us that it's looking to continue the run when we're oversold on the relative strength index that's when we can see a decrease in price and nvidia's been so bullish it hasn't really sold off even when it was oversold but as a rough example you can see when we went oversold here till when we broke up over here the price did decrease this entire time time we went over sold we increased that's how bullish Nvidia is and now we're breaking above the 20 line indicating that we're no longer going to be oversold we're trying to push up to the 80 line once we're above the 80 line look that's when we can see massive gains let me correct that line a little bit see when we were overbought on the RSI on this daily chart that's when we had massive gains there and what's the RSI telling us now it's telling us that it's setting up for more massive gains so basic basically every single indicator on this chart is telling us that Nvidia is setting itself up to continue making lifetime highs now as a disclaimer obviously nothing is for certain in the market anything can happen but based on all the indicators and just pure logic looking at the data in front of us there is much more upside to the stock than downside in my opinion so really that's all I have to say about Nvidia this thing in my opinion is going to keep beasting it so we'll we'll see what it does maybe it'll turn around but I think there's plenty more upside than downside so my sentiments are absolutely bullish on Nvidia I think the stock will keep killing it let me know what you guys think if you disagree with me or if you agree with me in the comments below and I look forward to seeing what Nvidia does in the future catch you in the next video have a good one
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