Nvidia Is Down but Not Out

Nvidia (NVDA) is down today and it has plenty of company but if you have a good trade location you should not be too concerned about what is only a one-day pullback right now. Prices could dip more but I find no technical warnings on NVDA coming into today's session.

In this daily bar chart of NVDA, below, we can see how prices gaped to the upside last week breaking away from a coil-like consolidation pattern. Prices are in a strong position above the rising 50-day and the rising 200-day moving averages. The daily On-Balance-Volume (OBV) line is supportive and rising. In the lower panel is the 12-day momentum study, which is not showing a bearish divergence....63 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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