NVIDA (NVDA) Closes Prior Hour Up 0.09%; Bearish Engulfing Pattern Present, Moves Down For the 3rd Consecutive Day, in an Uptrend Over Past 90 Days

The Hourly View for NVDA

Last Updated September 18, 2020, 23:10 GMT

At the moment, NVDA’s price is down $-2.66 (-0.53%) from the hour prior. The hourly chart shows that NVDA has seen 3 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Nvidia Corp Daily Price Recap

Nvidia Corp came into today down 2.2% ($10.97) from the open of the previous day, marking the 3rd consecutive day it has gone down. This move happened on lower volume, as yesterday’s volume was down 13.71% from the day before — and down 6.81% from the same day the week before. The daily price chart of Nvidia Corp below illustrates.


Nvidia Corp Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 16 out of the past 30 days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 90 and 30 day charts, may be slowing down and ready to reverse.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to NVDA:

    $NVDA has agreed to pay SoftBank Group $1.25B breakup fee if Arm Holdings sale fails to close.

    That sum has been prepaid to SoftBank as part of a $2B cash payment at signing. $750M of that amount was paid to Arm for the licensing of intellectual property.

    The $40B price tag includes $12B in cash, 44.3M Nvidia shares valued at an est'd at $21.5B, a $5B earn-out based on the company’s financial performance in the March 2022 fiscal year, and up to $1.5B in restricted stock units for Arm employees.

    If you back out the stock going to Arm employees & the license fee going to Arm, the total drops to $37.75B. And if for some reason the earn-out failed to pay out, the total would drop to $32.75B —just a hair above the $32B SoftBank paid for Arm in 2016.

    Will China approve the deal is the $1.25B question??