Shares of Nvidia ( NVDA) could be in the midst of a key reversal day -- a new low for the move down followed by a higher close. Let's check the charts again to see how things have changed from June 29.
In the updated daily bar chart of NVDA, below, we can see that the shares made a new low for the move down and are in the process of moving higher. Prices are up on the day and could close above Friday's high to generate a short-term outside day and higher close. If the high/low range is big enough and trading volume expands we could declare this a key reversal day. Prices are still below the declining 50-day moving average line but this will be a step in the right direction.
The On-Balance-Volume (OBV) line is in a decline but Tuesday could mark the start of a turnaround. The Moving Average Convergence Divergence (MACD) oscillator is below the zero line but could turn higher with the price action. 
In the weekly Japanese candlestick chart of NVDA, below, we do not have Tuesday's price action included. The only positive development on this chart (for now) is the narrowing of the MACD oscillator.
In this daily Point and Figure chart of NVDA, below, we can see a potential downside price target in the $109 area. This chart will change with the price action.
Bottom-line strategy: Traders who like to see the news and the price action fit together may not embrace the idea of a key reversal day on NVDA. Nevertheless, aggressive traders could go long NVDA at current levels risking below $140. A rebound to the $195 area would help the tone of the market.
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