NVDA's chart doesn't look good: a cup-with-handle failed four times and it rose only about 7%, so it is in a sell area and could reach swing support around 208 or 207, though volume suggests a limited drop and a possible bounce; it sits in a neutral zone versus its 50- and 200-day averages.
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" Nvidia," it's a different graph, guys. Look at this thing. It seems to be everywhere, doesn't it? We had a cup model with a handle. He tried to hack in once, twice, three times, four times, and failed after the fourth time.
It didn't even rise much. It has increased by about 7%. Puff! It is now in the sales area. Um, you know, we love Nvidia. It is currently the number one stock in the world , but do you know what?
There are a lot of selling days here, and it looks like this stock could be heading towards the 208 or 207 area. These are sort of swing support points . I don't know. Trading volume suggests that it may not drop there too far, telling us that it may bounce back.
But wow, there's so much "if this happens " and "we hope this happens" and all that. It is below the 200- day moving average, below the 50-day moving average, and above the 200-day moving average, in a sort of neutral zone.
You want things to be above the 50 level. Nvidia's stock doesn't look that good.
What this channel has said about $NVDA
Cash Flow Machine | Mark Yegge | Wealth Architect has 8 calls on this stock; only the adjacent ones are shown.