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Stocks | Technical Analysis | Technology
Chart of the Day: Is Nvidia’s Next Leg Coming?
David Russell
December 4, 2024

Nvidia has been mostly quiet since the summer, but some traders may think another move to the upside is coming.

The first pattern on today’s chart is the August high of $131.26. NVDA broke above this level in the first of October and then pulled back to test it in three different weeks. Has old resistance become …

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.

Tags: NVDA

About the author

David Russell
David Russell is Global Head of Market Strategy at TradeStation. Drawing on more than two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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