Nvidia Corp (NVDA) Heads Down For the 2nd Day In A Row, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

Nvidia Corp Daily Price Recap

Nvidia Corp closed the previous day down 3.02% ($15.72); this denotes the 2nd day in a row a decline has happened. As for how volume fared, yesterday’s volume was up 58.49% from the previous day (Sunday), and up 357.57% from Monday of the week before. Below is a daily price chart of Nvidia Corp.

NVDA

Nvidia Corp Technical Analysis

The first thing we should note is that Nvidia Corp is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Nvidia Corp’s price has gone up 9 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard Around the Web

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

    $DIS 1m
    $DIS
    Stock is going seriously higher on a shite mkt day. This will RIP when the bs drop of last 3 days ends with the REAL tech companies ($AAPL $NVDA) taking off shorts heads.

    As for the bs techs trading at asswipe valuations incl $ZM $TSLA and all the rest of the hyped names trading at stupid S multiples of sales (SALES not earnings!) and having no ebitda? Those all need to come in a whacked 75%

    emeraldbayrider