Nvidia (NVDA)
.. $NVIDIA (NVDA.US)$... As mentioned in my piece last week, the pivot has moved from the left side of the cup to the right side and now stands at $130. The new much deeper size of the handle does not change that. According to TipRanks, the average target among top-rated analysts for this stock is $150.66.
However, the daily MACD is no longer postured bullishly, and the 21-day EMA has crossed back underneath the 50-day SMA. These are technical negatives that do increase the likelihood that the stock could retest either the low of August 5th or the 200-day SMA. Proceed with caution.
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NYSE floor trader for over 30 years. Day trader, long-term investor, and anything in between.
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