NVIDIA Corp (NASDAQ:NVDA) is trading higher on Friday. The stock extending a steady rebound as risk appetite stays strong across big‑cap tech. The Nasdaq is up 1.16% and the S&P 500 is gaining 0.82%.
- NVIDIA stock is showing positive momentum. What should traders watch with NVDA?
The Chart Setup Is Leaning Bullish
NVDA continues to hold in the upper half of its 52‑week range between $104.08 and $216.82, a sign that the broader uptrend remains intact despite recent volatility. The stock is trading 2.2% above its 20‑day moving average and 7.9% above its 100‑day, a configuration that typically signals short‑term and intermediate‑term trend control remains with the bulls.
Momentum indicators are also improving. The MACD line is above the signal line with a positive histogram, showing that upside pressure is building again after a brief cooling period. RSI is sitting in a neutral zone, not overbought nor oversold, which gives the stock room to extend higher without flashing exhaustion signals.
Volume has been stabilizing after a period of heavier selling, and today's uptick is coming on healthier participation, which supports the move rather than undermining it.
Key Levels Traders Are Watching
The chart continues to revolve around two major levels. On the upside, $212.00 remains the ceiling that has repeatedly capped rallies. A clean breakout above that zone would likely trigger momentum buying and open the door to a retest of the upper end of the 52‑week range.
On the downside, $164.50 is the key support level where buyers previously stepped in aggressively. As long as Nvidia stays above that area, the broader uptrend remains intact and dips are likely to be bought.
NVDA Shares Are Gaining
NVDA Price Action: Nvidia shares were up 0.21% at $199.99 at the time of publication on Friday, according to Benzinga Pro.
Image: epha1st0s/Shutterstock
Login to comment