Nvidia rallying on better earnings forecast and new chip plans

Nvidia is at an interesting area after having tracked sideways for quite a while. It looks like it could be about to break to new highs, but might still be a bit of a short term pullback so it can build more of a base for its new pricing levels. Being back above its 50 day moving average is often seen as a good bullish signal.

The catalyst was in todays TradingView news summary "Nvidia Corp NVDA jumped 5.6% after saying Monday it would make a server processor chip that would directly challenge Intel Corp INTC . The chipmaker also signposted above-guidance first-quarter sales."

On the watch list.

Note

Nice little move before pulling back to support to build that base.

Note

Closed back up above resistance. Looking interesting here.

Note

Put on a 100% run before pulling back with the wider market.

zAngus

NOT TRADING ADVICE. ALWAYS DO YOUR OWN RESEARCH.

MY SITES:

FIND TRENDING STOCKS: HigherHighs.com/

FIND AND SET TRAILING STOPS: SuperTrail.io

TRADINGVIEW TIPS: YouTube.com/@zAngus

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

zAngus

NOT TRADING ADVICE. ALWAYS DO YOUR OWN RESEARCH.

MY SITES:

FIND TRENDING STOCKS: HigherHighs.com/

FIND AND SET TRAILING STOPS: SuperTrail.io

TRADINGVIEW TIPS: YouTube.com/@zAngus

Also on: