NVIDA (NVDA) Closes Last Hour Down $-1.31; 2 Day Up Streak Broken, Breaks Below 20 and 50 Day Averages

The Hourly View for NVDA

Last Updated November 23, 2020, 15:18 GMT

At the moment, NVDA’s price is up $8.03 (1.53%) 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 20 hour timeframe. 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

The back and forth price flow continues for Nvidia Corp, which started today off at 523.51 US dollars, down 2.62% ($14.1) from the previous day. This move happened on lower volume, as yesterday’s volume was down 40.48% from the day before — and down 16.77% from the same day the week before. Let’s take a look at the daily price chart of Nvidia Corp.


Nvidia Corp Technical Analysis

First things first: Nvidia Corp crossed below its 20 and 50 day moving averages yesterday. 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.

Overheard Around the Web

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

    $NVDA NVDA and NASDAQ will fade on the hype of the vaccine news, which is getting played out. Will cover NVDA short around $505 on the NASDAQ pullback that will be coming over the next 1-7 days. Good luck!