First a correction, analyst day at Nvidia(NVDA) is today. Prior report was in error. Trading in Nvidia yesterday, the day prior to the analyst day, was uninspiring — no run up prior to the event. In the premarket today, Nvidia is up $0.38.
Yesterday, bears on Nvidia were out in force in the media making their case. This morning JP Morgan has upgraded Nvidia with a target of $21, about the level where the stock is trading.
From a technical point of view, Nvidia is at a key juncture. Will Nvidia break support at $20 decisively or is a bottom at hand?
Our position is well documented in the prior posts. New readers will benefit from a careful read of these posts. Consider entering NVDA in the search box to gain easy access to all prior posts.
Stay tuned, we will provide you with our analysis based on the ZYX Change Method as more information becomes available.
