During Friday's Mad Money program Jim Cramer said chipmaker Nvidia (NVDA) is another terrific long-term investment, because the company's chips are at the heart of machine learning and everyone wants a part of the future.
Let's check out the charts of NVDA.
In the daily bar chart of NVDA, below, we can see that the stock launched a new uptrend in early June. Prices broke above their April highs in October to create a breakout from a big base pattern. Prices are above the rising 50-day moving average line and the bullish 200-day moving average line. In August the 50-day line crossed above the slower-to-react 200-day line for what is called a golden cross. This moving average crossover buy signal can be effective in long-trending markets.
The daily On-Balance-Volume (OBV) shows a bullish rise from late December and another rise from early June until now. A rising OBV line tells us that buyers of NVDA have been more aggressive with heavier volume being traded on days when NVDA has closed higher.
The Moving Average Convergence Divergence (MACD) oscillator moved above the zero line in August and it still is in a bullish configuration.