Is NVIDIA Still in an Uptrend? My Breakdown

TradingView2026/04/20 15:18

By:TradingView

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I took a step back to answer one key question:
👉 Is this still an uptrend, or are we rolling over?
Here’s how I approached it:
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1️⃣ The Pullback Context
• The recent drop = 38.2% retracement of the entire 2025 rally
• That typically signals a healthy correction, not a trend reversal
• 2026 price action so far → looks like consolidation, not weakness
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2️⃣ Key Levels to Watch
• Price is currently sitting just below the 78.6% retracement (~203)
• This is the final resistance before the 212 high
• A break above that = strong bullish continuation signal
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3️⃣ Higher Timeframe Confirmation (Weekly)
• Bounce off the 55-week moving average ✅
• Trend support (cloud structure) still intact ✅
• DMI = long-term buy signal ✅
➡️ All pointing to: trend still bullish
________________________________________
4️⃣ Bigger Picture (Monthly)
• Potential bull flag structure forming
• If confirmed, this implies a large upside breakout
📈 Break above 212 → opens the door toward 300+ longer term
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5️⃣ What Would Invalidate This?
• A drop below 165 (38.2% retracement)
• That would weaken the bullish structure
Until then:
👉 Plenty of room for sideways consolidation within an uptrend
________________________________________
💡 Bottom Line
• Trend = still constructive
• Breakout level = 212
• Risk level = 165
• Upside potential = significant if breakout confirms

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Is NVIDIA Still in an Uptrend? My Breakdown

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