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Nvidia Stock Chart Analysis: Watch This Epic Trend Line

Nvidia Corp. (NVDA) reported earnings Wednesday after the close. The company posted solid results, beating expectations. However, the stock is barely budging today. This is mainly due to the lofty share price already factoring in a beat on revenue and earnings. As price chops, Nvidia stock chart analysis can be used to decipher the major levels. There is an epic trend line that connects through August 2020 highs and the lows from September 2020, October 2020 and November 2020. This gives a major clue as to the price action on Nvidia going forward. Currently, price is above that trend line. As long as it holds above, Nvidia stock chart analysis signals a neutral to upside bias. However, if price breaches that trend line, a strong sell will occur, likely taking the stock down to $424.00 within a week or two. That represents a $110 drop from the current level. Nvidia stock chart analysis is clear, watch this trend line. If it breaks, be ready for a massive dump in share price.

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