The stock is below two horizontal lines shown on the chart my semiannual pivot at $212.29 and my monthly risky level of $241.07. A “death cross” occurs when the 50-day simple moving average falls below the 200-day simple moving average and indicates that lower prices lie ahead. 29 resulted in a “death cross” formation on Nov. The 40% decline to its 2018 low of $176.01 set on Oct. The daily chart shows that Nvidia began 2018 with continued strong upside momentum which stalled on a dime after setting its all-time intraday high of $292.76 set on Oct. The daily and weekly charts were setup for warnings! The daily chart for Nvidia The company was cautious on guidance and expectations were disappointing across market platforms.
They beat this number reporting $1.84 per share but they missed on revenue. 2.Īnalysts expected Nvidia to report earnings between $1.73 and $1.80. Nvidia closed Thursday at $202.39 up 4.6% year to date but in bear market territory 30.9% below its all-time intraday high of $292.76 set on Oct. Nvidia Corporation (NASDAQ: NASDAQ: NVDA) is an important component of the PHLX Semiconductor Index.ĭemand for semiconductors is an important economic indicator as almost every electronic product we buy contains computer chips - from your smallest handheld device to the automobile you drive.Īs a sign of oversupply of semiconductors, the PHLX Semiconductor Index fell into bear market territory at the end of October and is crawling its way back up but is still down 15.7% from its all-time intraday high of 1,464.61 set on March 13.
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