NVDA Technical Breakdown of Key Moving Averages, My Pending Order Strategy Revealed

Today NVDA closed at $205.10, down 6.2%. This decline doesn't seem small, but in terms of technical analysis, the amount of information behind it is enormous.

First, look at the moving average system: the 50-day simple moving average is currently at $199 and trending upward, while the 200-day moving average is at $205. Recently, NVDA recaptured the 200-day line, which was a macro bullish signal, but on June 5th, it fell below this level again, triggering market alertness. The closing price just sticks close to the 200-day moving average, which is the last line of defense for the bulls. The short-term moving averages are already showing a bearish arrangement, the middle band of the Bollinger Bands has been easily broken through, testing near the lower band. The 16-minute MACD has shown a bearish crossover, indicating that short-term momentum is rapidly waning.

Next, look at support and resistance structures. Immediate support is in the $222-$224 range, coinciding with the 21-period exponential moving average, which is the first line of defense. A stronger support zone is at $214-$216, historically attracting significant buying interest. Deeper supports include $194 and $164. Moving upward, resistance is in the $231-$236 range, which is a historical supply zone and not easy to break through directly.

My trading approach: do not rush to bottom-fish. Although NVDA's trading volume has decreased about 88.86% from the average level, shrinking volume during a price decline usually indicates weakening selling pressure rather than panic selling, but a volume rebound is the key confirmation signal. I will place three buy orders in the $194-$200 range to buy in batches, and set some take-profit orders in the $224-$226 range. Waiting for volume to rebound and confirm a reversal signal, rather than guessing the bottom.

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