Nvidia (NVDA) is the company that blew away its recent earnings expectations. Prices surged to the round number of $500 but that proved to be an obstacle. The median price estimate amongst fundamental analysts is $623.75 and with prices trading around $442 on Friday afternoon this price target is looking like a mirage.
Let's check out the latest charts.
In this daily bar chart of NVDA, below, I can see that prices are trading below the rising 200-day moving average line. Prices are down more than $50 from their recent highs. Isn't that interesting in the wake of their blow-out earnings report last month?
The daily On-Balance-Volume (OBV) line has been stalled for the past four months. The Moving Average Convergence Divergence (MACD) oscillator has been weakening since the middle of June and it is only slightly above the zero line now.