Momentum Reversal? NVIDA’s Heads Down for the First Time in 3 Days

The Daily View for NVIDA

  • Currently, NVDA’s price is down $-2.5 (-0.45%) from the day prior.
  • The daily chart shows that NVIDA has seen 2 straight down days.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

NVIDA’s hourly price chart is shown below.

NVDA

The Daily View for NVIDA

  • At the moment, NVDA’s price is down $-3.88 (-0.69%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Of note is that the 100 day changed directions on NVDA; it is now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of NVIDA.

NVDA

Featured NVIDA Idea From TradingView

Below is a trading comment entitled NVDA Closed above the neutral you may find interesting:

NVDA closed above the neutral box (618fib) today. This is bullish if price can hold this level and then push higher. I would expect some short term consolidation and maybe pull back.. There is a good chance the completion zone of the harmonic I’ve drawn will act as a magnet for price. The reason why is because once a stock get momentum traders have less and less reasons to sell and simply wait until their targets are hit. The harmonic completion zones represent areas where many traders would place their targets. All that said it will be key for price to get above 564. Additional Info: I am an intraday scalper and short term swing trader of stocks & Futures using options and equity.I foc…

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