Each week, I’ll give an overview of a stock and Licia Leslie will follow that up with a chart analysis the next day. Bill Griffo will chime in with macro analysis and Andrew Giovinazzi will then finish out the week with a volatility breakdown.

Have a stock YOU want us to review? Email my team here. – Mark

Hey Traders,

From November 22, 2021 until October 14, 2022, NVDA traded pretty much straight down.

It came down from $346 to a low of $108.

Since that low it has traded almost straight back up.

The new recent high just shy of $276 was made just last week on March 22, 2023.

That is a $168 rally or 70% off that low.

Since that new recent high, NVDA has teased a roll over, meaning it looked like it was ready for a pullback making lower highs and lower lows.

That only lasted four days.

Yesterday, NVDA rallied over 2% and is back to $270.

Your next resistance level is that previous high at $276.

From there to the upside, NVDA looks pretty open to trade up to $290.

Once it trades back to that previous high at $276, watch for a change in trend candle to signal that it has topped out or made a double top.

If NVDA does decide to roll over your first support level comes in at $257 and below that at $244.

If that does not happen, next stop is $290.

Trade accordingly. 

Thanks For Reading … See You Next Tuesday,

Licia Leslie