After facing significant resistance at the $140 mark, Nvidia’s share price has finally fallen below it. This has prompted a wave of selling which brought the share price even lower. It is now hovering at the $128 at the time of writing.
One significant reason for this drop is increased investor fears about tariffs that may be placed on Mexico & Canada. This coincides with Walmart’s earnings report, which highlights the possible effects of the tariffs on profits.
The stock is now moving below the 50 day moving average, adopting a wider bearing trend. This breakthrough will lead to its earnings report tomorrow (26 February); a critical day for investors. Disappointment in the stock will result in a larger market correction. This would likely drag the share price below the 200 day moving average at $100, providing a good opportunity to buy the dip.
drewtalksmoney 
Leave a comment