The Long Investor

$NVDA

Added 2024-07-19 16:54:50 +0000 UTC

$NVDA continues to sell off and is putting enormous pressure on the sector and market, as it did in April but rebounded very well when its pull back completed.

The price action is just at its 50 Day MA now, this was also lost in April too and when this happened we waited for the retest of the MA from below and when that test came, the price action had no issue flipping the MA back to support and the price took off again.

So if this happens shortly, we will wait for the retest of the MA from below again before we make any changes to our portfolio.

I have added in the amber Fib levels to show where support can be found in case the 50 Day MA is lost and rejected....

I think if the price got below the 0.5 Fib at $71, we would strongly consider $NVDA and consider adding it to out Top 20 list.