Chart of the Day: Nvidia and the Midcap Breakout

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Megacap growth stocks like Nvidia have outperformed for years. But traders looking for the trend to change may see more evidence of a shift.

Today’s idea considers three charts. The first shows how NVDA rallied 93 percent this year above its previous record high. It also highlights the big price swing on Friday as the chip giant made a new record high before reversing lower. In the process it engulfed prices over the two previous sessions. That’s a potential reversal pattern …

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

Nvidia (NVDA), daily chart, with selected patterns and indicators, courtesy of TradingView.
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