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NVIDIA Corporation (NVDA) “On a long-term technical basis, the stock (NVDA) is trading above its 200-day moving average which generally implies it is in a positive trend.
The stock has support at 431.69 and 391.08. If the stock breaks down through support at 431.69 then it will probably continue lower to 391.08. The stock will meet resistance at 499.88 and 539.61. If the stock breaks up through resistance at 499.88 then it will probably continue higher to 539.61. The 200-day moving average is at 300.03. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (88.13), and turning down, which suggests a pause or possible pullback, especially if near resistance. Confirm this with the Short-Term and Daily Outlook to keep from exiting prematurely.”
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