Chart of the Day: NVDA 'Banded' Range

0:00time now for our chart of the day. Joining us for a break down is Kevin Horner, Senior Manager, Trading Services, Charles Schwab. So, Jensen Wong's already been, you know, kind of talking up AI and he compared it to a five-layer cake earlier this week in a, you know, a blog post that had, you know, just essentially a missive about the future of AI. But let's get into the chart. You've got a short-term look at it first. What does that look like for in video? Well, first it sounds delicious. I'm in for five-layer cake. That's wonderful. Look sideways, Diane. You know, I've been watching in video like many of the better part of the last few months and it's been a very lengthy long-run consolidation. And this 30-day chart is really no different. Ultimately, we're banded between 173-193. We had a very brief respite from that on February 25th or so, 24th, where we popped to the upside through that 193 ledge. That was extremely short-lived. You'll notice it on the daily chart as well here momentarily. But ultimately, the area that I'm watching right now is the volume point of control. It comes in at 183 and it's also coincident with that rise gently, very recently rising 200

1:05period. In this case, 200 hour moving average. You know, we broke that very brief downtrend line. I drew in here over the last week. The possibility exists for a little bit of momentum and a little bit of a pop to the upside. Let's see if we can get through 186 near-term here up to, through 186 to the upside. We can push 193 back below 182 or so. Suddenly, we're looking at the bottom of the band right around 173 again. So, intraday price levels here kind of important for us on a big day here and what could amount to a lot of movement, obviously, on a Friday the 13th. Absolutely. I remember that breakout. And I guess, although a five-layer cake sounds delicious in terms of how he's stacking up AI, the chart's not looking like that. But let's zoom out and look at a longer term chart, Kevin. Yeah, you got it. As I called out, that very brief breakout. You'll notice the red line at 193 on this daily chart and it's a small little candle that was through it and what happened the very next day was a significant red candle that brought us back to the 200 day

2:10moving average. And I think a lot of traders are eyeing that 200 day. Notice that same volume point in control over the last year at 183, 200 day right beneath us at 177, an area under which on a close would be the first close we've seen below the 200 day since April of last year. If that were to occur, it increases the odds of a deeper pullback. Some traders on a close under the 200 day in 177 are going to get a little bit more defensive. They may build a little cash. They may take a little risk off the table and Nvidia because of the size of Nvidia, that could extend other S&P or NASDAQ type positions as well. So, certainly bears watching. We know that Nvidia can drive broader markets. So, absolutely worth keeping an eye on some important levels here. Absolutely. All right. Thank you, Kevin. That is Kevin Horner, Senior Manager, Trading Services, Charles Schwab. Have a great weekend, Kevin.