NVDA finds support at 50-day moving average


NVIDIA Corporation (NVDA) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
NVDA finds support at 50-day moving average
NVDA closes lower for the 2nd day in a row
NVDA breaks below previous session low
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

Moving lower for the 2nd day in a row, NVDA ended the week 1.07% higher at 254.79 after losing $1.67 (-0.65%) today. Closing below Thursday's low at 256.15, NVIDIA confirms its breakout through the prior session's low having traded $3.45 below it intraday.

Daily chart for NVDA
Volatility

Friday's trading range was $3.39 (1.34%), that's below last trading month's daily average range of $5.22. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 253.50. After trading as low as 252.70 during the day, the market found support at the 50-day moving average at 252.76.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the nearby swing high at 260.24 where further buy stops might get activated. Selling could accelerate should prices move below the close-by swing low at 249.71 where further sell stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for NVIDIA Corporation
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Black Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

NVDA closes within previous day's range

Aug 16, 2018
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