NVIDIA: the bounce stalls at the critical threshold
NVIDIA slips 3.9% as the bounce stalls right at the 213.8 threshold
NVIDIA: the bounce stalls at the critical threshold
Our view last week
After weeks of sell-heavy trading, NVIDIA flips the tape: the week just closed posted an 8.3% jump with 100% of volume on the buy side, the sharpest bounce in weeks. The decline, under management for 5 weeks and down 2.8%, is still under pressure though: distribution hasn't wrapped up, and price is pressing right under the level, just below the 211 area, that would shut the signal off.
This week's summary
NVIDIA's technical picture shows a bounce that stopped right where it mattered: last week the stock gained 8.3% up to its 7-day high, in the 213.8 area, the threshold that would have closed the Sell signal. That level held, rejected three times, and this week NVIDIA stock gave back 3.9% with 69% of volume on the sell side. Price is now boxed between two moving averages, and distribution hasn't wrapped up.
IQS Phase
53
ordinary
Signal Strength
9
decline losing steam
Sizing
MINIMUM
Ranking
#105 / 140
US stocks
Trade P&L %
+1.16%
from signal to today
restricted Platinum content