The Long Investor

$NVDA

Added 2025-03-21 18:14:25 +0000 UTC

$NVDA is still below the trend line that we have been watching closely since the flush down to $103, the price is still above the 0.618 Fib at $117 but I believe many will not feel comfortable until the wedge trend line is converted back to support, so there is still a bit of work here to do.

The worrying variable here is that the 50 Day MA and has crossed down through the 200 Day MA which is known as the death cross and typically not something you want to see on a chart if you are bullish....but this is $NVDA and I have seen it break out of a bearish Head and Shoulders pattern because of a launch of a new product.

Right now, bulls need to get this back above the trend line at $121 and holding, and then testing the 200 Day MA at $127.

The market also needs $NVDA to do this too if it wants to recover.