NVidia (NVDA) The candle NVDA created Thursday is called a Marubozu. Opening price is the highest price or very close to and the closing price the lowest price or very close to i.e., within few cents. It means sellers have been in control the entire trading session.
In this case the highest price is also the all-time high and it could very well be the all-time high for quite some time.
NVDA didn’t quite close the gap from the previous day’s candle close (50 cents difference) but could very do that the next couple of days.
There is divergence on the RSI indicating an exhaustion of the uptrend.
If NVDA closes below 450 the uptrend could be in jeopardy.
If closing below 403 down-trend has been confirmed with a likely sell-off down to test the upper level of the gap area 373.56-316.78.
If this scenario unfolds sellers are likely to try closing the gap i.e., trying to push NVDA down to around 316
Weekly chart Bearish Engulfing top and reveal pattern is still in play unless the week is closing above 471.30.
To cancel and extend the uptrend Nvidia needs to close above Thursday’s peak at 502.66