NVIDIA (NVDA) August 10

NVDA shares surged on high volume and gap up on Friday with a weekly close above multiple resistance ($22.75). $23.50 is the next level to watch before the multi-year of $25 comes into play. Bullish. However, a couple of days ago we saw an “iron cross” on the stock (50-day-SMA falling below its 200-day counterpart) which is a lagging bearish indicator.

NVDA (6 months)

nvda

Chart: StockCharts.com

Petros Steriotis