Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

Nvidia Breaks the 50-day SMA: Is This a Threat or an Opportunity?

by July 26, 2024
July 26, 2024
Nvidia Breaks the 50-day SMA: Is This a Threat or an Opportunity?

After a big run this year, Nvidia (NVDA) fell over 15% from its high and broke its 50-day simple moving average (SMA). On the face of it, a break below this “key” moving average seems like a short-term bearish signal. Such a view, however, would ignore the long-term trend, which is the dominant force at work.

The first job is to define the long-term trend because this provides perspective and sets the trading bias. Nvidia is clearly in a long-term uptrend because it is well above the rising 200-day SMA, and recorded a new high a month ago. During a long-term uptrend, declines are viewed as corrections that provide opportunities. Therefore, the break below the 50-day SMA is more of an opportunity than a threat. Our reports and videos this week suggest the same for QQQ.

Corrections come in all shapes and sizes. We could get a short pullback, an extended pullback, or a trading range. Nobody really knows. The decline into April broke the 50-day SMA, but this correction was short-lived as the stock broke out in early May. The decline in September-October 2023 was longer because NVDA broke the 50-day SMA twice. These breaks did not lead to a bigger trend reversal.

Looking at the current break, the decline over the last four weeks looks like a normal correction after a big advance. NVDA was up 78% from mid-April to mid-June. A correction that retraces a portion of this advance is perfectly normal. The long-term trend is still up, and I view this correction as an opportunity, not a threat.  

ChartTrader will cover the declines in leading tech and AI stocks on Tuesday, July 30th. We will put these declines into perspective, identify potential reversal zones and mark corrective patterns when possible. This report and video will include Nvidia (NVDA), Broadcom (AVGO), Dell Technologies (DELL), Pure Storage (PSTG) and more. Click here to learn more.

//////////////////////////////////////////////////

0
FacebookTwitterGoogle +Pinterest
previous post
Petrol Stations accused of overcharging drivers by £1.6bn in 2023
next post
Why Putin prefers Harris over Trump in the White House

You may also like

Utilities’ Unique Seasonal Powers: The Best Months to...

January 19, 2024

Up, Up & Away!

October 12, 2022

Two EASY But INSANELY POWERFUL Ways to See...

November 11, 2023

META Stock in Limbo: What You Need to...

April 19, 2024

Price Momentum Oscillator (PMO) Internals Still a Problem

November 2, 2024

The Fed’s Interest Rate Decision: How To Play...

February 1, 2023

Small Cap Value Stocks Unexpected Driver for Market

June 29, 2023

The Fed Wants to Raise Rates as Russia...

June 26, 2023

MEM TV: Are the Magnificent Seven Ready to...

October 28, 2023

Stay Away From Large Cap Value Stocks

December 6, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved