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Daily W%R Divergence:Bearish
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 3/15/2024 -
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NVIDIA Corp. (NVDA) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtRelative Strength Index is strongly overboughtBroken trend resistance lineBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARBullish Meeting Lines Candlestick
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It was a tenth consecutive positive week for the NVIDIA Corp. (NVDA). During the week, the NVDA climbed 3.08 points, or 0.35%, and closed at 878.36 on Friday, March 15, 2024. Weekly volume was 35% above average.

NVDA is a member of Information Technology Sector. Information Technology is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See NVDA long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 108.13 and reached 974.00 on March 8, 2024. NVDA gained -865.87 points, or -800.77%, in 73 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (531.39) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See NVDA medium-term trend chart]
A medium-term uptrend had started on October 31, 2023 at 392.30 and reached 974.00 on March 8, 2024. NVDA gained -581.70 points, or -148.28%, in 18 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (573.23) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See NVDA weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought while Relative Strength Index is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic or strongly overbought weekly Relative Strength Index. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 5, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See NVDA short-term trend chart]
A short-term uptrend had started on January 3, 2024 at 473.20 and reached 974.00 on March 8, 2024. NVDA gained -500.80 points, or -105.83%, in 65 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See NVDA daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Candlestick pattern: [See NVDA candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.03
Williams' Percentage Range (W%R) 33.60
Lane's Stochastic (%D-Slow) 48.32
Greed/Fear Indicator (GFI) 59.25
Moving Average Converg./Diverg. (MACD) 59.93
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 98.83
Strong Overbought
Williams' Percentage Range (W%R) 18.00
Overbought
Lane's Stochastic (%D-Slow) 89.70
Overbought
Greed/Fear Indicator (GFI) 80.78
Overbought
Moving Average Converg./Diverg. (MACD) 72.13
Trading Signals
Description Value Chart
Parabolic System 974.97
Upper Bollinger Band 967.19
Weekly Stochastic Crossing 927.53
Daily Stochastic Crossing 907.47
Price 878.36
20 Day Moving Average 824.10
50 Day Moving Average 700.69
Lower Bollinger Band 684.59
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Semiconductors 59
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 473.20
Low Date 01/03/2024
High 974.00
High Date 03/08/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 450.10
Low Date 12/04/2023
High 974.00
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 500.70
Support 573.23
Low 392.30
Low Date 10/31/2023
High 974.00
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 509.12
Support 531.39
Low 108.13
Low Date 10/13/2022
High 974.00
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 11.15
Low Date 11/16/2012
High 974.00
High Date 03/08/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.