#TradeOfTheWeek

#TradeOfTheWeek

#TradeOfTheWeek:

#TradeOfTheWeek: Tech Stock Rebound Powers Short-Term Gains

This week’s #TradeOfTheWeek spotlight is on the tech sector, specifically NVIDIA (NVDA), which saw a strong rebound after a short-lived dip, providing a prime opportunity for swing traders.

After pulling back to a key support level near $840 last week, NVDA reversed with momentum, driven by renewed optimism around AI growth and a better-than-expected earnings forecast from a peer company.

Traders who recognized the bullish engulfing pattern on the daily chart on Monday were rewarded with a solid move upward.

By Thursday, NVDA had surged over 8%, breaking back above the $900 level and attracting heavy volume a clear sign of institutional interest returning.

Momentum indicators confirmed the strength of the move, with RSI pushing above 60 and MACD crossing bullishly.

For risk-managed entries, the $850 zone offered a compelling setup with a stop below $830 and an initial target of $920 — a risk/reward ratio better than 2:1. This kind of disciplined setup highlights why NVDA is our top trade this week.

Looking ahead, eyes will be on next week’s inflation data and broader market sentiment. But with AI demand continuing to shape the tech landscape and NVDA maintaining leadership in the GPU space, the stock remains a key watch for further upside — especially if it consolidates above the $900 level.

Trade Summary:

Ticker: NVDA

Entry Zone: $845–$855

Target: $920+

Stop Loss: Below $830

Rationale: Technical bounce off support, strong sector momentum, bullish chart setup

Stay tuned next week for another top setup as markets continue to offer both challenge and opportunity.