NVIDIA is expected to continue its current bullish momentum with a minimum expectation of price reaching 292.75.
The 6 hour timeframe candlestick chart of NVIDIA (NVDA) is examined in today’s analysis with coverage of over 10 months of price action. The 50 moving average (MA) and 200 MA is used to help to track the trend changes in NVDA, and also suggest possible path for future price development.
NVIDIA reached a price peak of 292.75 on October 2, 2018 before reversing and selling off with 124.57 established as the price low on December 26, 2018. Besides, market close last week Friday (April 05, 2019) which is a component of the current bullish swing from 124.57 traded close to the upper boundary of immediate resistance at 194.57.
The 50 MA crossing back above the 200 MA implies more bullish upside on the 6 hour timeframe. The 50 MA maintaining a positive, rising slope is also crucial as the slope of a MA is its most important power in trend analysis.
Paying close attention to price action upon breakout above the upper boundary of resistance and watching for any signs of trend reversal is important. This is due to the falling window (gap) between 230.40 and 223.73 which presents another challenge for the price of NVIDIA.
Above all, the minimum expectation for the current price swing from 124.57 would be to capture the price peak established back in October 2, 2018.
The 6 hour timeframe candlestick chart of NVIDIA (NVDA) is examined in today’s analysis with coverage of over 10 months of price action. The 50 moving average (MA) and 200 MA is used to help to track the trend changes in NVDA, and also suggest possible path for future price development.
NVIDIA reached a price peak of 292.75 on October 2, 2018 before reversing and selling off with 124.57 established as the price low on December 26, 2018. Besides, market close last week Friday (April 05, 2019) which is a component of the current bullish swing from 124.57 traded close to the upper boundary of immediate resistance at 194.57.
The 50 MA crossing back above the 200 MA implies more bullish upside on the 6 hour timeframe. The 50 MA maintaining a positive, rising slope is also crucial as the slope of a MA is its most important power in trend analysis.
Paying close attention to price action upon breakout above the upper boundary of resistance and watching for any signs of trend reversal is important. This is due to the falling window (gap) between 230.40 and 223.73 which presents another challenge for the price of NVIDIA.
Above all, the minimum expectation for the current price swing from 124.57 would be to capture the price peak established back in October 2, 2018.
