The Hourly View for NVDA
Last Updated September 11, 2020, 15:10 GMT
Currently, NVDA’s price is up $3.55 (0.72%) from the hour prior. This is the 3rd consecutive hour NVDA has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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 back and forth price flow continues for Nvidia Corp, which started today off at 492.47 US dollars, down 3.17% ($16.13) from the day prior. The change in price came along side change in volume that was down 4.5% from previous day, but up 41.12% from the Thursday of last week. 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 day moving average yesterday. 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 up 9 of the previous 14 trading days. Price action traders may wish to observe the bearish engulfing pattern that has emerged over the past two trading days; in light of the uptrend on the 90 and 30 day charts this may be particularly noteworthy, as it may signal the uptrend is cooling and ready to reverse.
Overheard Around the Web
Over on StockTwits, here’s an example of what they’re saying about NVDA:
$NVDA I'm a long term investor and don't care about short term moves but have a lot of fun with the technical predictions day/swing traders make which are almost always wrong and now just for fun I'll take that role and for the first time make my short term prediction. After the big selloff on the 1h chart I see higher lows and highs in an uptrend recovery channel with the last wave 470-520-490. That chopping magnitude will probably oscillate sideways but with a noticeable uptrend followed by an upside breakout in a time frame I can't predict but usually things with this stock happen faster than expected. And unlike most here I will announce how wrong I am if that turned out to be the case.