The data also tells us to set a stop loss 231.07 in case the stock turns against the trade. If 231.61 begins to break higher, the technical summary data tells us to buy NVDA just slightly over 231.61, with an upside target of 232.08. Buy NVDA slightly over 231.61, target 232.08, Stop Loss 231.07 Details.Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan. In this case, if resistance, 232.08, is being tested a short signal would exist. By rule, any test of resistance is a short signal. We should have a stop loss in place at 232.75 though in case the stock begins to move against the trade. The technical summary data is suggesting a short of NVDA if it tests 232.08 with a downside target of n/a. Short NVDA near 232.08, target n/a, Stop Loss 232.75.Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan. In this case, 232.08, initial resistance, would be breaking higher, so a buy signal would exist. 232.08 is the first level of resistance above 222.13, and by rule, any break above resistance is a buy signal. The data also tells us to set a stop loss 231.41 in case the stock turns against the trade. If 232.08 begins to break higher, the technical summary data tells us to buy NVDA just slightly over 232.08, with an upside target of 254.56. Buy NVDA slightly over 232.08, target 254.56, Stop Loss 231.41 Details.In this case, if resistance 258.20 is being tested, so a short signal would exist. 258.20 is the first level of resistance above 222.13, and by rule, any test of resistance is a short signal. The summary data tells us to have a stop loss in place at 258.95. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The technical summary data is suggesting a short of NVDA as it gets near 258.20, but the downside target is not available from the current data. Short NVDA under 258.20, target n/a, stop loss 258.95 Details.In any case, new support levels are usually revised to the database at the beginning of the next trading session. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. This often is a signal that the stock you are watching is weak. Buy signals only exist if resistance breaks higher. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. There is no current Support Plan to trigger a buy of this stock at this time. Source: Stock Traders Daily Longer Term Trading Plans for NVDA
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