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

The Hourly View for NVIDA

  • Currently, NVDA’s price is up $0.19 (0.09%) from the hour prior.
  • The hourly chart shows that NVIDA has seen 2 straight up hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on NVIDA. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly 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.

NVIDA’s hourly price chart is shown below.

NVDA

The Daily View for NVIDA

  • Currently, NVDA’s price is up $2.38 (1.15%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on NVIDA. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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.
  • Divergence between NVDA’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in NVDA’s price.

Below is a daily price chart of NVIDA.

NVDA

Featured NVIDA Idea From TradingView

Below is a trading comment entitled NVDA you may find interesting:

NVDA has been really beat up lately, watch for the MACD and RSI to recover and it break some key resistance lines and go a run.

Davis_Stocks