NVIDIA Corp (NVDA)

[DiscoverGold]

Diamond Scan Results Picking Up - Check Out NVIDIA (NVDA)
By: Erin Swenlin | November 27, 2019

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Current Market Outlook:

Market Trend: Currently, we have Trend Model BUY signals in all three timeframes on the DP Scoreboard Indexes.

Market Condition: The market is overbought, with Price Momentum Oscillator (PMO) BUY signals on the DP Scoreboards. Remember, overbought conditions can persist in a bull market.



Market Environment: It is important to consider the odds for success. The Silver Cross Index measures the percentage of stocks on IT Trend Model BUY signals (20-EMA > 50-EMA), while the Golden Cross Index measures the percentage of stocks on LT Trend Model BUY signals (50-EMA > 200-EMA). Here are the current percentages on the Silver and Golden Cross Indexes:



Diamond Index:

• Diamond Scan Results: 28
• Diamond Dog Scan Results: 8
• Diamond Bull/Bear Ratio: 3.5

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NVIDIA Corp (NVDA) - Earnings: 2/12 - 2/17/2020

NVDA has been in a rising trend channel for most of the fall. The PMO is moderately overbought. The OBV kind-of confirmed the gap up with a slightly higher reading. The OBV bottoms are rising, which is positive. The SCTR has been holding above 75, which shows internal strength.



I didn't see any major overhead resistance that was broken recently except for the late 2018 top. What interests me most is the strong PMO and the large bullish double-bottom pattern, which would suggest a move to challenge all-time highs.



Full Disclosure: I do not own any of the stocks above and I'm not planning on adding any at this time. I'm currently about 80% in cash.

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