NVDA Reclaimed 204.82 – The Shakeout Confirmed.
Friday the base at 202.20 held on a close, and the open question was whether NVDA could reclaim 204.82 to confirm the shakeout. It did. Nvidia bounced from the 197.97 low back to 205.83, taking the level back and turning the base test into a defended low. The next test is 207.59, the breakout level lost last week – reclaim that and the whole drop reads as a shakeout inside the trend. Conviction is still only mid-range on the hour, so this is a recovery that has proved one level, not the whole structure. Neutral.
Resistance: 207.59 – the lost breakout level, the next test
Key resistance: 213.43-213.81 – the prior high
Current price: 205.83
Support: 204.82 – just reclaimed, first line to hold
Key support: 202.20 – the base
Structural floor: 197.97 – the swept low
Two paths from here:
The reclaim extends through 207.59. If NVDA holds 204.82 and takes 207.59, the base test is fully resolved and the trend re-engages toward 213. The low is defended and the first level is already back.
The bounce stalls under 207.59. Mid-range conviction running into a level it just lost is where recoveries fail. A rejection at 207.59 and a loss of 204.82 puts 202.20 back on the table for a second test, and second tests are weaker than first ones.
The base held and the reclaim came, which is what confirmation looks like. 207.59 is the level that decides whether this is a full recovery or a bounce inside a broken structure.
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Study, not financial advice.