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Asset Watch
Tuesday, August 1, 2023
The blue line below tracks NVIDIA’s 200-hour moving average. Aside from April’s false breakdown, the level has held for several months and should be on your radar if you plan to ride the wave.
A prudent approach would be to hold a position if the stock remains above its 200-hour MA or enter a new position if the stock bounces off the support level. Alternatively, a stop-loss could be placed 2% to 4% below the 200-hour MA to remain invested if another false breakdown occurs, while also avoiding a flush if sentiment shifts.
So, is NVIDIA still a safe bet, or is all the good news already priced in?
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