Since June of last year 
NVDA has been developing a $113 support level. Today we saw a retest of this level with strong momentum in accordance with a weakening market. I believe the Stock will break this level and continue down to its next significant support level at $96. Technically, the stock is bouncing off of a return to its 21 EMA below the 50 EMA which would have been the optimal entry point on this trade. Today also had a cross below the 14-day SMA in RSI. Finally, looking at the technical indicators provided by Trading View the stock is showing sell or neutral signals across all indicators except for 1.
NVDA has been developing a $113 support level. Today we saw a retest of this level with strong momentum in accordance with a weakening market. I believe the Stock will break this level and continue down to its next significant support level at $96. Technically, the stock is bouncing off of a return to its 21 EMA below the 50 EMA which would have been the optimal entry point on this trade. Today also had a cross below the 14-day SMA in RSI. Finally, looking at the technical indicators provided by Trading View the stock is showing sell or neutral signals across all indicators except for 1. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.