Nvidia Corp. shares were trading lower Monday as many companies in the broader tech sector move lower. A rise in Treasury yields has put pressure on these stocks. Nvidia was down 2.28 percent at $299.94 Monday afternoon. Nvidia Daily Chart Analysis The stock dipped near the 50-day moving average and formed what technical traders call a hammer candle. This candle shows that although the stock dropped, it looks to have bounced back a little. The $210 level is an area that once held as resistance, but if the stock falls all the way back down to this area, it may hold as an area of support. The hammer candle the stock is forming is showing strength. The stock trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock is seeing bullish sentiment. Each of these moving averages may hold as a possible area of support …
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