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NVDA officially bearish on the daily.
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NVDA closed below the 200MA on the daily chart, which means it is officially bearish. While we could experience a V-shaped recovery, the TA says this security is bearish. Downside retracements shown on green/yellow dotted lines. Next level of minor support is around $417, then $400, then $350. Red trendline now acting as resistance.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
NVDA closed below the 200MA on the daily chart, which means it is officially bearish. While we could experience a V-shaped recovery, the TA says this security is bearish. Downside retracements shown on green/yellow dotted lines. Next level of minor support is around $417, then $400, then $350. Red trendline now acting as resistance.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
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