As the Dow Jones Industrial Average and other stock indexes headed in different directions during Tuesday's session, Nvidia (NVDA), Advanced Energy Industries (AEIS), ****** mins (CMI) and GE Vernova (GEV) were among names to watch.
With the S&P 500 and Nasdaq composite pulling back, traders who use Investor's Business Daily's IBD Methodology have the flexibility to buy top-rated growth stocks while reducing risk by selling any stocks that have triggered sell signals.
Dow component Nvidia tumbled below its 50-day moving average during Tuesday's 3% slide, according to IBD MarketSurge chart ****** ysis. That's a key area to watch. A decisive rebound back above that level would place the artificial intelligence leader in a new buying range, while more weakness would be a reason to exit the stock from a previous breakout at 197.63.
Meanwhile, Nvidia stock could have a base in another week, likely a double-bottom pattern with a 232.28 buy point, but that seems unlikely now with shares near their recent lows.
Nvidia stock backstory: On Tuesday, Daniel O'Regan, managing director of equity trading at Mizuho Securities, said chip stocks were due for a pullback after rising "too far, too fast."
With the S&P 500 and Nasdaq composite pulling back, traders who use Investor's Business Daily's IBD Methodology have the flexibility to buy top-rated growth stocks while reducing risk by selling any stocks that have triggered sell signals.
Dow component Nvidia tumbled below its 50-day moving average during Tuesday's 3% slide, according to IBD MarketSurge chart ****** ysis. That's a key area to watch. A decisive rebound back above that level would place the artificial intelligence leader in a new buying range, while more weakness would be a reason to exit the stock from a previous breakout at 197.63.
Meanwhile, Nvidia stock could have a base in another week, likely a double-bottom pattern with a 232.28 buy point, but that seems unlikely now with shares near their recent lows.
Nvidia stock backstory: On Tuesday, Daniel O'Regan, managing director of equity trading at Mizuho Securities, said chip stocks were due for a pullback after rising "too far, too fast."
5 months ago
