Nvidia Goes for a Flag Breakout

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Nvidia (NVDA) is showing relative strength as it breaks above consolidation resistance. The chart below shows the stock surging and then moving into a trading range that looks like a flat flag. A breakout here would signal a continuation higher. The indicator window shows the StockCharts Technical Rank (SCTR) above 90, which means NVDA is showing some serious relative strength. Notice how the SCTR broke out a day before the stock as relative strength led absolute strength.

140422nvda


Click this image for a live Chart

Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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