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The most captivating stock of the 2020s continues to own the decade. The incredible global demand for its state-of-the-art GPUs keeps the stock running hot. NVIDIA (NVDA - Free Report) is so far ahead of everyone else in the global race that at times it’s just not fair. Its nearest competition is light years away.
While they all try to play catchup, NVIDIA revenue estimates keep ticking higher. But that doesn’t mean it’s been all sunshine and lollipops for the stock. To the contrary, the summer was rough on the chip giant. A rotation out of NVIDIA and into small caps helped NVDA track lower since its most recent stock split. NVDA shares hit all-time highs of $140.76 on June 20th before dumping down under $100, hitting lows of $90.69 on August 5th, the day that the Yen carry trade seemingly blew up.
Heading into earnings, some sideways action during a period of consolidation. A good report will take out the all-time highs, presumably taking with it some buy stops from the shorts. A bad report should put the $100 level back on the radar, with the 200-day lying another $4 shy of the August lows.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding NVIDIA’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
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Analyzing NVIDIAs Stock Chart Ahead of Earnings
The most captivating stock of the 2020s continues to own the decade. The incredible global demand for its state-of-the-art GPUs keeps the stock running hot. NVIDIA (NVDA - Free Report) is so far ahead of everyone else in the global race that at times it’s just not fair. Its nearest competition is light years away.
While they all try to play catchup, NVIDIA revenue estimates keep ticking higher. But that doesn’t mean it’s been all sunshine and lollipops for the stock. To the contrary, the summer was rough on the chip giant. A rotation out of NVIDIA and into small caps helped NVDA track lower since its most recent stock split. NVDA shares hit all-time highs of $140.76 on June 20th before dumping down under $100, hitting lows of $90.69 on August 5th, the day that the Yen carry trade seemingly blew up.
Heading into earnings, some sideways action during a period of consolidation. A good report will take out the all-time highs, presumably taking with it some buy stops from the shorts. A bad report should put the $100 level back on the radar, with the 200-day lying another $4 shy of the August lows.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding NVIDIA’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.