$NVDA - All eyes at the 5 Daily Moving Average

SmartReversals
11-13

1. $NVIDIA Corp(NVDA)$ - All eyes at the 5 Daily Moving Average

Not a market to short, but conditions are rising caution flags. The bearish crossover in Stochastic is something to watch with caution. $AAPL and $MSFT falling are the other major giants to watch.

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2. $.SPX(.SPX)$ - The decline was supported by the 5DMA, so far nothing has happened in terms of short term uptrend.

Anyway be mindful about the bearish Stochastic crossover and the usual visit to the next moving average when the 5DMA is breached. The 10DMA is the closest at $5,862.

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3. $iShares Russell 2000 ETF(IWM)$ - Bearish Crossover in Stochastic: Probable nothing, unless the usual pullback announcement seen over the last months is coming.

The Gap is a big magnet, at least to the 10DMA, currently at $229.

Nvidia Rebound: Still a Long Term Bet?
Nvidia drop 2% despite exceeding expectations for the third quarter and providing strong guidance. Nvidia posted 81 cents in adjusted earnings per share and $35.08 billion in revenue. Analysts surveyed by LSEG were expecting 75 cents in earnings per share and $33.16 billion in revenue. ----------------- What's your target price for Nvidia? Head to $130 or $140 this week?
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