By TradingView
Publication Date: 2026-05-04 13:09:00
The first pattern on today’s chart is the advance between April 8 (ceasefire with Iran) and April 27. The semiconductor giant held a 50 percent retracement of that move and stabilized, which may confirm its upward direction.
Second is the price zone along the peaks of November and February ($196-197.63). NVDA is also holding that, which could mean that old resistance has become new support.
Third, prices bounced at the rising 21-day exponential moving average (EMA).
So, you have NVDA stabilizing at three points (retracement, old high, EMA). Is that triple confluence heading into earnings on May 20?
Next, the 8-day EMA is above the 21-day EMA. MACD is also rising. Those signals may reflect bullish short-term momentum.
Finally, NVDA is a highly active underlier in the options market. (Its average daily volume of 3.9 million contracts ranks first in the S&P 500, according to TradeStation data.) That could help traders take positions with calls and puts.
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