NVDA April 26, 2024: An Attempt to Resume the UptrendOn April 26, 2024, The weekly chart of NASDAQ:NDX shows a weekly recovery from the MA-30 week. NASDAQ:NDX closed near the weekly high which is encouraging. The current close is right near the resistance 17,780 which was broken during the week April 15-19.
Looking closer at the daily chart we can see that the resistance is at the same level with both MA-20, MA-50, therefore this is a key level challenging the market next week.
I started to buy a pilot position in NASDAQ:NVDA around the close of April 26. Reasons:
Crossed up MA-20
Crossed up MA-50
Crossed up the small trendline (yellow line on the chart)
This happened before the NASDAQ:NDX did so as described above.