NVIDA Trend May Be Changing as Price Just Breached Below Its 200 Day Moving Average

The Daily View for NVIDA

  • Currently, NVDA’s price is up $1.92 (0.38%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • 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.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them with price now being above it. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

NVIDA’s hourly price chart is shown below.

NVDA

The Daily View for NVIDA

  • At the time of this writing, NVDA’s price is up $1.14 (0.23%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved 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 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Most noteworthy in the world of moving averages on the daily chart is that the 200 day moving average has been crossed, with price now being above it. 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 Commentary From Twitter

Amazing day. Wow. Destroyed Nvda puts for 200k. Loaded Gs and Ba. Reversal. Ba at 266 if southwest deal comesNA

smartertrader