One of the favorite names of the momentum crowd is Nvidia (NVDA) , which always seems to move big with the market -- up or down.
Monday we saw this name gap lower on bigger turnover as the markets got shellacked early on, but the stock seems to have found support at the 50-day moving average. There is not much to get excited about here, however, but the money is very strong and the cloud is bullish.
Moving average convergence divergence (MACD) is on a sell signal, though, and relative strength is rolling over.
Earnings are due soon (May 16) and perhaps shareholders are getting out of the way before that event strikes. There is resistance ahead with the 200-day MA, 20-day MA and upper Bollinger band.
A break above those levels (arrow) would be quite bullish and propel the stock up much higher. But you have to wait for it.