Chart of the Day: Is This Semiconductor Stock Rolling Over?


Nvidia had a sharp countertrend rally two weeks ago, but now the chip giant may be rolling over.

Prices jumped over $183 on May 27. They remained above that level and started making lower highs on June 2. That kind of descending triangle is a potential bearish continuation pattern, which was broken to the downside yesterday.

Second, this month’s high was slightly lower than May’s. That’s consistent with a downtrend.

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For more, please click here to view the related idea and chart analysis on TradingView.

Nvidia (NVDA), daily chart with selected events, courtesy of TradingView.
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