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Rate Of Return$NVIDIA(NVDA.US)
Its Nvidia time again. Time to review Nvidia’s charts and see how price behaves in the last week.
Last Monday I mentioned she was hovering above the 200D MA and how she reacts there will be telling.
That level was 192. She hovered above that last Monday and sold off into it on Tuesday. Price subsequently saw a strong reaction and rallied off that level. In technical terms, we call that a successful retest of a trend line and the 200D MA is very important as it is being watched and used as a marker by almost all institutions and big traders.
It has rallied all the way above $200 in a show of strength. However, it is wise to still be cautious.
Volume is still tepid as well as structure only shows three waves up. This can still be just a bounce.
I believe the market is watching upcoming earnings before deciding.
@Captain's Treasure
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