Nvidia just put in a reversal signal on the Daily chart as it hit major resistance.
This semiconductor has been a powerhouse mover and has single handily been lifting the Semis sector higher.
Now that this stock may show some near term sell pressure we could see the sector as a whole pullback.
The only thing that Im being mindful of when it comes to NVDA is that it has yet to report earnings.
As a technical analyst I'm a bit dissatisfied that Nvidia came so close to filling the technical daily gap at 230.46 but never managed to fill it which leads me to think there may be a possibility it has 1 more gasp at a rally to fill the gap before rolling over.
None the less distribution is being observed in a time when yields and dollar may be spiking again.
This semiconductor has been a powerhouse mover and has single handily been lifting the Semis sector higher.
Now that this stock may show some near term sell pressure we could see the sector as a whole pullback.
The only thing that Im being mindful of when it comes to NVDA is that it has yet to report earnings.
As a technical analyst I'm a bit dissatisfied that Nvidia came so close to filling the technical daily gap at 230.46 but never managed to fill it which leads me to think there may be a possibility it has 1 more gasp at a rally to fill the gap before rolling over.
None the less distribution is being observed in a time when yields and dollar may be spiking again.
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.