• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Nvidia Stock Slumps as Dow Futures Edge Lower
Economy

Nvidia Stock Slumps as Dow Futures Edge Lower

by November 26, 2024
by November 26, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Dow Jones futures, along with S&P 500 and Nasdaq 100 futures, edged lower early Tuesday as investors remained cautious ahead of a pivotal week for the markets. Nvidia (NVDA), a key driver of the tech sector, continued its decline, shedding 4.2% Monday after a 3.2% drop on Friday. The stock is testing support at its 10-week moving average, a critical technical level.

Nvidia’s performance is closely watched due to its leadership in artificial intelligence. AI has been a major theme driving market gains in 2024. A break below the 10-week line with high trading volume could signal further downside. This may trigger broader weakness in tech-heavy indices like the Nasdaq. Conversely, a strong rebound would suggest renewed investor confidence. This could offer a potential entry point for investors bullish on the AI sector.

Meanwhile, market participants are awaiting the release of the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) Price Index, later this week. The data will provide critical insights into inflation trends and could shape expectations for the Fed’s policy trajectory.

With uncertainty looming, traders should remain vigilant, focusing on key technical levels and macroeconomic data to guide investment decisions.

Nvidia Stock Chart Analysis

NVDA/USD 15-Minute Chart

The 15-minute chart of NVIDIA Corporation (NASDAQ: NVDA) shows a steady downtrend over recent sessions, with the stock declining from its high near $152.89 to its current level at $135.93. The price action indicates persistent selling pressure, as lower highs and lower lows dominate the chart. The sharp drop around November 24 suggests increased bearish momentum, likely driven by negative sentiment or external factors impacting the broader semiconductor industry.

The RSI (Relative Strength Index) is currently at 29.18, indicating that the stock is in oversold territory. This suggests that a short-term bounce could occur, though the overall trend remains weak. The failed attempts to hold support levels near $138 and $140 further highlight the bearish outlook.

Key support is now around $135.50, as this aligns with the session’s low. A breakdown below this level could accelerate selling pressure toward the next psychological support at $130. On the upside, resistance is visible at $138, and a sustained move above this level could attract buyers, potentially leading to a retracement toward $140.

Traders should watch volume patterns and RSI divergence for signs of a reversal. However, caution is warranted, as the overall trend remains bearish.

The post Nvidia Stock Slumps as Dow Futures Edge Lower appeared first on FinanceBrokerage.

You Might Also Like
  • Nikole Hannah-Jones calls out ‘rich White people’ after SCOTUS ruling, adds Clarence Thomas ‘irrelevant here’
  • Wisconsin’s liberal Supreme Court in crosshairs as GOP lawmakers grill judicial ethics commissioners
  • Former Sen. Scott Brown hosts 2024 GOP presidential contenders in NH as he mulls another Senate run in 2026
  • Alex Soros’ access to Biden’s White House continues as he’s now visited at least 20 times, records show
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Kohl’s Shares Plunge 11%
next post
Nvidia Stock Slumps as Dow Futures Edge Lower

You may also like

GOP congressman, 80 pastors sing ‘Amazing Grace’ in Capitol Rotunda

March 30, 2023

Speaker Johnson demands firing of federal workers reportedly staging pro-Palestinian...

January 16, 2024

Ramaswamy’s trolling of Pence for ‘copying’ his ‘revolutionary ideas’ gets...

September 19, 2023

Gen. Milley warns US military must modernize now

July 1, 2023

Sen Lindsey Graham demands hearing on Durham report

May 16, 2023

Progressives Love Suppressing Votes–But Not the Way You Think

December 21, 2022

Trump greets Netanyahu at Mar-a-Lago, says World War III could...

July 26, 2024

Haitian Prime Minister Ariel Henry to resign amid low-scale civil...

March 12, 2024

Special Counsel Jack Smith asks SCOTUS to reject Trump request...

February 15, 2024

Khanna draws the line between Fetterman and Feinstein absences amid...

April 17, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,632 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    MONEY TALKS: Rumored presidential hopefuls with...

    February 12, 2023

    Soros-backed policy group notches victory with...

    April 10, 2023

    Maine lawmakers endorse offshore wind program...

    July 26, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here