The Hourly View for NVDA
Last Updated October 20, 2020, 10:9 GMT
Currently, NVDA’s price is up $2.62 (0.47%) 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 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on NVDA. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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
Nvidia Corp is down 2.27% ($12.55) since the previous day, marking the 4th consecutive day a decrease has occurred. The price move occurred on volume that was up 17.4% from the day prior, but down 24.09% from the same day the week before. Here is a daily price chart of Nvidia Corp.
Nvidia Corp Technical Analysis
The first thing we should note is that the current price of Nvidia Corp is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for Nvidia Corp has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Nvidia Corp’s price has gone down 6 of the previous 10 trading days.
Overheard Around the Web
Here’s what one trader on StockTwits recently had to say in regards to NVDA:
$NVDA I panicked And sold at a 7 dollar loss of a fractional share. my account had 22 dollars this morning and now it’s at 15. I’m so nervous my dad will find out. I have several other 1 dollar bags of fractional shares so my portfolio is now set for long term. Anyone know where I can invest the remaining 2 dollars I have e left to invest ? Im thinks hertz ? But dont want to be a bag holder.
rip lil peep