A closer look at that move in NVDA

[Money Morning LIVE Plus] Thursday, August 25, 2022 A closer look at that move in NVDA Hey traders, it's Garrett In recent days we discussed navigating through the low-volume environment we're in right now, and one of the ways to do is that picking your spots and sticking to them. For example, today was ALL about Nvidia (NVDA) for day traders on our team and in our rooms. I wanted to break down the price action we saw in NVDA to find some important takeaways going forward. As usual, it's all about getting [your charts]( right. The NVDA Move It was Kenny Glick who put NVDA on our radar for a bullish move this morning on the FREE morning show. Yes, I'm emphasizing "free" there. Because if you were in the room, you had ample opportunity to get in on this trade. And if you're someone who watches the show often, this is a trade you've seen plenty of times before: a simple earnings reversal. This is when a stock starts gapped down on the day after earnings, but then buyers step in, the shares break above VWAP, and the stock moves higher off its lows. In fact, the first major move happened while we had Kenny's screen pulled up on the show and he was explaining why he was looking for an earnings reversal on NVDA. NVDA consolidated [right at VWAP]( (the blue line), before breaking its range high, and then it was off to the races, rising $2 in roughly 20 minutes. Once it moved off VWAP, you needed to be waiting to see if it broke that former high to be bullish. You even could have had another chance to buy right after the open, when the shares again pulled back to VWAP. Of course, if you were already in a position from earlier, you should have been taking profits into the move. I know, I know, you'll say that NVDA went all the way up to the $178 level, but that's how trading goes sometimes. You can't beat yourself up if you make a profit and the stock keeps going up. Multiple Time Frames Another note here I want to make is that it can be important, even as a day trader, to know significant levels on a stock's daily chart. Because look at where NVDA began to top out into the afternoon hours... NVDA's daily chart with gap circled The shares hit resistance (at least as of this writing) right at the site of a previous gap in the daily chart. This would have been an important level to have highlighted once you started to trade NVDA today. Just make sure to "zoom out" at times to find spots like this. (And for the record this was also near the site of the multi-day on the 5-minute chart). For more on VWAP charting, check out this primer here... [GET YOUR CHARTS RIGHT](. Also, [Kenny Glick]( will be live for more than an hour tomorrow morning, and I heard through the grapevine Gabe's team is going to be offering a special deal for those in the room. Make sure you join us tomorrow morning! Of course, you download the [Money Morning LIVE streaming schedule]( so you never miss a thing, and you can also sign up for our [text alerts](. See you all tomorrow morning at 8:30 AM ET. Garrett {NAME} Executive Producer, Money Morning LIVE Stay Connected [Money Morning Red Alert] The best way to receive the most timely, actionable opportunities from Money Morning is by joining our text messaging service, Red Alert - free of charge. [Text INCOME to 21852]( By texting INCOME to 21852, you are expressly consenting to be texted about investing news, trade alerts and marketing communications from Money Map Press, LLC about Money Morning's Red Alert text messaging service at the phone number you use, even if the phone number is on a corporate, state or national do not call list. You also consent and unconditionally agree to our [Privacy Policy]( and [Terms of Use]( including the arbitration provision and class action waiver contained therein. Your consent is not required to make a purchase. Msgs may be sent using automated technology. Message frequency varies. Msg&data rates may apply. Text HELP for HELP and Text STOP to STOP. You are receiving this e-mail at {EMAIL}, as part of your subscription to Money Morning LIVE Plus. To remove your email from this list: [unsubscribe here]( or manage your Money Map Press [Email Preferences](. To cancel, or for any other questions or requests, please contact our Customer Service team: [Online]( Phone: 888-384-8339 (North America) 443-353-4519 (International) Mail: Money Morning LIVE Plus | Attn: Member Services | 1125 N Charles Street | Baltimore, MD 21201 Fax: 410-622-3050 Our Customer Service team is available Monday ‑ Friday between 9:00 AM and 5:00 PM ET. © 2022 Money Map Press. All Rights Reserved. Nothing in this email should be considered personalized financial advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Protected by copyright laws of the United States and international treaties. This Newsletter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of: Money Map Press. 1125 N Charles Street, Baltimore, MD 21201. [Website]( | [Privacy Policy]( | [Terms & Conditions]( [sg_hidden_unsub]