Peter Smith
⬤ Nvidia (NVDA) reversed course during the session, erasing its early gains and closing the gap that formed this morning. The stock slipped back toward the $184-$185 zone after failing to hold above short-term resistance, showing how quickly sentiment can shift in volatile tech names.
⬤ The chart shows repeated rejections near the $187.87 resistance level, with NVDA drifting lower as the 20-, 50-, 100-, and 200-period moving averages all pressed down on price action. After losing the mid-range support around $185.93, the stock dropped toward $183.95, with rising volume during the pullback confirming the momentum shift.
⬤ The RSI weakened following the reversal, and NVDA kept printing lower highs throughout the session. The pattern points to an intraday downtrend, with the next support level sitting near $179.15—though the chart doesn't suggest where price goes from here.
⬤ NVDA's quick retreat back into its earlier trading range highlights the volatility still gripping semiconductor and AI stocks. The morning gap closed fast, and the early bounce couldn't stick—leaving the stock back under pressure and aligned with the broader weakness seen across the session.
Peter Smith
