• 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
  • Hunter Biden pleads not guilty to tax charges brought by Special Counsel David Weiss
  • WATCH: Jean-Pierre gives terse response when questioned on possible staff shakeup amid Biden polling crisis
  • Former Israeli general warns of growing threat of war with Hezbollah amid rising tensions with Iran proxy
  • Top Virginia Democrat defends candidate who streamed sex acts with husband online for ‘tips’: ‘Fight back’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Nvidia Stock Slumps as Dow Futures Edge Lower
next post
Nvidia Stock Slumps as Dow Futures Edge Lower

You may also like

‘Spreading lies’: The government should regulate AI-powered political campaign ads:...

August 18, 2023

Did Biden call UK PM Sunak ‘prejudiced’? White House pressed...

June 15, 2023

Tyre Nichols death: Liberals blame racism for Memphis man’s brutal...

January 29, 2023

Kamala Harris to hold ‘grassroots reception’ on wealthy Martha’s Vineyard

August 9, 2023

How Vice President Kamala Harris got started in politics

July 26, 2024

White House accuses House GOP of ‘empowering China’ for insisting...

January 20, 2023

Hamas terror leaders hiding across Middle East away from war...

November 7, 2023

House Minority Leader Hakeem Jeffries defends Biden’s comment that Hunter...

June 3, 2024

Centrist group No Labels scraps bid to launch third-party presidential...

April 5, 2024

Biden called out for past desegregation remarks after praising 1954...

May 18, 2024

    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 2,630 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

    Biden jokes he was ’12’ when...

    July 25, 2024

    Ted Cruz rips Buttigieg at CPAC:...

    March 3, 2023

    Democrats face a reckoning on Biden...

    July 7, 2024
    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