- Nvidia stock price has dropped below 20, 50, 100 and 200-days Daily Moving Average followed by a declining streak from last week.
- NVDA stock price got distributed as soon as it reached above the $190 resistance level and declined below $150 after reversal.
- A worldwide American technology firm with headquarters in Santa Clara, California, Nvidia Corporation was founded in Delaware.
Nvidia stock price has been declining after the resistance level at $192 and has been continuously falling since 13th December. NVDA stock investors need to reverse the declining trend and hold tight to throttle up the token towards the distribution phase. Nvidia stock must increase the current accumulation rate for the share price to surge and reach the resistance level at $192. Some positive market sentiments are coming from different analysts about the price action of Nvidia share price (NASDAQ:NVDA) to surge and return towards the distribution phase and nullifying the seller’s efforts to pull the share price to lower levels.
Nvidia stock price is currently approximated at $139.63 and has dropped by 1.17% in the day’s trading session. This demonstrates that sellers are currently trying to raid the market for NVDA shares by being on the short side.
Nvidia stock price has been declining over the daily price chart and is currently trying to sustain at the current level. However, trading volume can be seen below average and needs to grow for NVDA share to soar and recover over the daily time frame chart.
Quarterly Report Displays Growth of Nvidia Stock:
The declining momentum and the shorting sentiments are being showcased as Nvidia share price has dropped around 13.19% in a week whereas 12.71% sell off in a month. However, in the 3 Months time frame or in a quarter Nvidia stock price has shined perfectly and maintained its dignity by giving around 12.38% growth in a quarter.
This Technical Indicator Pointing Some Positivity for NVDA Share!
Nvidia stock price needs to reverse the current downward trend of NVDA share over the daily price chart. Technical indicators suggest strong downtrend momentum of NVDA Stock.
Relative Strength Index showcases that Nvidia share price is about to enter the oversold territory. RSI is at 35 and is heading straight towards the oversold territory. MACD exhibits the declining velocity of NVDA stock. The MACD line is below the signal line after a negative crossover. NVDA investors need to wait for any positive sign for Nvidia share price.
Summary
Nvidia stock price has been declining after the resistance level at $192 and has been continuously falling since 13th December. NVDA stock investors need to reverse the declining trend and hold tight to throttle up the token towards the distribution phase. However, in the 3 Months time frame or in a quarter Nvidia stock price has shined perfectly and maintained its dignity by giving around 12.38% growth in a quarter. Technical indicators suggest strong downtrend momentum of NVDA Stock. MACD exhibits the declining velocity of NVDA stock. The MACD line is below the signal line after a negative crossover.
Technical Levels
Support Levels: $135.00 and $130.00
Resistance Levels: $165.00 and $190.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/12/28/will-nvidia-stock-price-nasdaqnvda-avoid-this-declining-streak-exclusive-technical-analysis/