NVIDA (NVDA) Closes Prior Hour Down -1.51%; 2 Day Up Streak Snapped, Crosses 20 Day Moving Average

The Hourly View for NVDA

Last Updated September 16, 2020, 23:13 GMT

Currently, NVDA’s price is down $-4.73 (-0.91%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as NVDA has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Nvidia Corp Daily Price Recap

The choppiness in the recent daily price action of Nvidia Corp continues; to start today, it came in at a price of 500.58 US dollars, down 3.67% ($19.06) since the day prior. This move happened on lower volume, as yesterday’s volume was down 23.54% from the day before — and down 62.19% from the same day the week before. The daily price chart of Nvidia Corp below illustrates.

NVDA

Nvidia Corp Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Nvidia Corp crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 14 days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about NVDA:

    $NVDA $TSLA $MSFT $AMZN just taking a little breather. These will come out stronger soon enough. Have patience…and don’t leverage more than you can afford. A margin call could force a sale and the last thing you want to see is the stock take off the day after you sell, at a loss, to cover your margin call.

    Boneshaker