$NVDA Daily Chart - Two indicators to watch
$NVIDIA Corp(NVDA)$ - Daily Chart - Two indicators to watch:
1) 20DMA, currently holding price
2) MACD, ready for a bearish crossover
If the first one breaks, the $100 zone would be tested, considering also the bearish cross in the MACD.
Good fundamentals, but the stock is being punished for missing gross margin (75% vs 78%, not bad anyway).
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Interesting correlation analyzed by $Bank of America(BAC)$ between the reaction to Nvidia's earnings report and $S&P 500(.SPX)$ .
Sounds like a consolidation is in play...
Unless that 20DMA previously charted holds for NVDA, or unless 6 datapoints are a very small sample.
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https://x.com/SmartReversals/status/1829260283488895395
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