Breaking $295 sees volume thin out alarmingly, meaning a quick move to $250 could be in the cards if broken. This is the recent point of control, and there is a huge volume profile at this level. The short-term 30 minute chart there offers huge support for short-term traders at $301. While we did note that revenue growth rates were slowing, they are slowing from a high level. NVDA has already upped guidance for the next quarter, so that should continue the recent strong momentum. The semiconductor sector though remains along with EVs possibly the hottest sector of the year, and we do not see much changing heading into early 2022.
The bigger transaction is a sale of 10,000 shares by one of the directors. Image Source: Pixabay Nvidia (NVDA) stock price and newsĪfter the set of strong results, news flow has died down a bit on this one. We do note some directors are selling now that the company earnings are out of the way, but it is nothing too alarming. Nvidia is one of the high-flying stocks of 2021, and so it took a disproportionate hit as investors cashed in. While Powell is not as doveish as Brainard, he still has presided over possibly the loosest period in US central bank history, so this latest drop was merely a case of "buy the rumour, sell the fact" as small lingering hopes over Brainard caused some selling.
Nvidia ( NVDA) put in a fairly sharp drop on Monday as most markets turned lower on the news of Fed Chair Powell being reappointed.
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