By Jeran Wittenstein and Ryan Vlastelica
Nvidia Corp.’s three-day, $430 billion selloff has traders turning to technical analysis for clues on where the bottom may be.
“For a stock in an uptrend like Nvidia, breaching that first level of support wouldn’t be a concern,” said Bruce Zaro, chief technical strategist at Granite Wealth Management. A drop below $100, however, would be, he said.
“That may not have long-term implications, but it would signal that you should be patient, especially in a period where the market is likely to be volatile and have a downward bias as we await the election and the Fed weighing in on rates.”
…read the rest of the article by clicking here.
*NOTE: This article is well-timed, as Bruce will be writing a new market commentary about Nvidia (NVDA) this week. Stay tuned!
