The Dow Jones Industrial Average traded mixed Monday, continuing its volatile action in the wake of last week’s heavy losses. Nvidia (NVDA) fell 3% after triggering a sell signal Friday, while Lululemon Athletica (LULU) rallied.
Key market movers included Amazon (AMZN), Apple (AAPL), and Microsoft (MSFT). American Express (AXP) is building a flat base that offers a buy point of $307.82, according to MarketSurge pattern recognition. Burlington Stores (BURL) is close to a 298.88 buy point in a flat base.
Tesla (TSLA) stock edged lower Friday, still holding above its Jan. 2 low. Shares are more than 19% off their all-time high.
Investors should closely watch three telltale clues for Nvidia: the stock’s failure to rally back above the 50-day moving average and two consecutive days of declines below a double-bottom entry at 146.54. The latest breakout attempt has failed, and investors will need to be patient and wait for another entry.
Key earnings reports this week include Dow Jones banking giants JPMorgan Chase (JPM) and Goldman Sachs (GS) on Wednesday. Key inflation reports, the consumer price index and producer price index, are due out this week, along with monthly retail sales data.
Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-nvidia-stock-nvda-sell-signal