BY LICIA LESLIE

August 18, 2023

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,

I last wrote about Nvidia Corp (Ticker: NVDA) on March 20, 2023 and said it could trade $290.

Well, it traded $290 and then some.

Before its last earnings report on May 24th, NVDA closed at $305.

After the report, it gapped open up $80, trading a high that day of $394.80.

NVDA not only held that breakaway gap area, but managed to trade much higher reaching an all time high of $480.88 on July 14th.

It has since pulled back and its most recent low is $403.11.

Yesterday, it closed at $433.44.

Here is the chart:

Taking a closer look at the chart, it had a large reversal day on Monday:

It held the support level at $403 and bounced.

Now it looks like it could be bull flagging off that very large bullish candle.

The flag has held the 50 day moving average at $433.61.

The next level of support comes in at $373.55.

On the upside, resistance is at the previous high at $480 and above that at $495.

Don’t forget the earnings report is due Thursday.

This is a mover.

Thanks for Reading … See You Next Tuesday,

Licia Leslie