NVIDA Snaps a 5 Day Up Streak

The Daily View for NVIDA

  • Currently, NVDA’s price is up $1.2 (0.19%) from the day prior.
  • NVIDA has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • 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.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on NVIDA. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being below it. 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 $-6.4 (-1.02%) from the day prior.
  • NVIDA has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • 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 – Approaching potential temporary resistance zone you may find interesting:

NVDA – has been good to us for now.I think there is a lot more upside potential here so don’t get scared by a small correction that could come next few days.If price doesn’t stop at the orange zone, it could go for the 261.8% level before making any corrective pullback.

ElliottWaveBelgium