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Asset Watch
Thursday May 16, 2024
NVIDIA’s 50-day moving average shows a solid momentum sign as it’s decided the short-term bull-bear debate over the last several months. In December 2023 and January 2024, the stock bounced near the 50-day MA after breakdowns occurred in the months prior.
Similarly, with another 50-day MA breakdown in April leading to further losses, the stock has been perched near the key level and hasn’t done much for over a week. As a result, you should remain bullish when the stock trades above the 50-day MA and place your stop-loss order somewhere below it (depending on your risk tolerance) to avoid false breakdowns.
Is the stage set for another NVIDIA breakout to new all-time highs, or could the 50-day MA crack in the days ahead?
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