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Uptrend Broken SupportArchive
- 4/5/2024 -
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NVIDIA Corp. (NVDA) Technical Analysis
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| Summary:
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| | It was the negative week for the NVIDIA Corp. (NVDA). During the week, the NVDA dropped -23.48 points, or -2.60%, and closed at 880.08 on Friday, April 5, 2024. Weekly volume was -13% below average.
NVDA is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See NVDA long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 108.13 and reached 974.00 on March 8, 2024. NVDA gained -865.87 points, or -800.77%, in 73 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (532.56) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See NVDA medium-term trend chart]
A medium-term uptrend had started on December 4, 2023 at 450.10 and reached 974.00 on March 8, 2024. NVDA gained -523.90 points, or -116.40%, in 13 weeks. The price is now at the 17.93% retracement level.
 Weekly Technical Indicators: [See NVDA weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The weekly MACD line is above its signal line since January 5, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See NVDA short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 974.00 and reached 841.66 on March 11, 2024. NVDA lost 132.34 points, or 13.59%, in 3 days. The price is now at the 29.03% retracement level.
 Daily Technical Indicators: [See NVDA daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since March 14, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See NVDA candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.
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