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Raymond James on NVIDIA (NVDA): 'Key Technical Levels As Elephant In The Room Takes A Tumble'

January 28, 2025 10:44 AM EST

Raymond James on NVIDIA (NASDAQ: NVDA): 'Key Technical Levels As Elephant In The Room Takes A Tumble'

The analyst, Javed Mirza, comments "What is happening: NVIDIA Corporation (NVDA) is showing signs of technical weakness consistent with a new intermediate-term (1-3 month) corrective phase attempting to take hold. Price Momentum is weakening (see red circle, top panel, Exhibit 1) and the stock closed below an important technical level near the 40-week moving average (see thin blue line, third panel, Exhibit 1). In addition, Relative Strength is deteriorating versus the S&P 500 (see red arrow, second panel,... More