Breaking News
Investing Pro 0
Cyber Monday Extended SALE: Up to 60% OFF InvestingPro+ CLAIM OFFER

NVIDIA Stock Trades Within A Narrow Range

By JFD TeamStock MarketsDec 30, 2020 06:51AM ET
NVIDIA Stock Trades Within A Narrow Range
By JFD Team   |  Dec 30, 2020 06:51AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio

The Nvidia stock (NASDAQ:NVDA) traded in a consolidative manner yesterday, staying close to the lower bound of the sideways range that’s been containing the price action since November 11th, between the 513 support and the 550 resistance. As long as the share price stays between those two boundaries, we will hold a neutral approach.

In order to start examining the case of decent declines, we would like to see a clear close below 513. This will confirm a forthcoming lower low on the 4-hour chart and may pave the way towards the low of October 30th, at around 491. Investors may pick up the stock at that price, but if they are not strong enough to push it back above 513, we may see another round of selling, with the share falling below 491. Such a dip may see scope for extensions towards the lows of September 4th and 8th, at 468.

Taking a look at our short-term oscillators, we see that the RSI runs below 50, but has recently turned up, while the MACD, even though below both its zero and trigger lines, shows signs of bottoming as well. Both indicators detect slowing downside speed, which means that the share price may stay range bound for a while more.

On the upside, a break above the range’s upper end, at 550, may be needed for market participants to get confident again in this stock. Such a rebound would confirm a forthcoming higher high and may open the path all the way towards the stocks record peak of 589, hit on September 2nd. At this point, it is worth mentioning that on November 9th, the share price got very close to that peak, but failed to touch it. If we sea a decent break this time around, the next level to consider as a resistance may be the 610 zone, which coincides with the 261.8% Fibonacci extension level of the aforementioned range’s width.

Nvidia stock 4-hour chart technical analysis
Nvidia stock 4-hour chart technical analysis

NVIDIA Stock Trades Within A Narrow Range

Related Articles

Sam Quirke
Will Apple Rally Into Year-End? By Sam Quirke  - Dec 02, 2022 1

Sometimes there’s a lot to be said for just reading the tape. Back in the day, investors didn’t have access to breaking news, or even old news like we do today, but...

NVIDIA Stock Trades Within A Narrow Range

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email