Tesla Inc. TSLA and NVIDIA Corp. NVDA are two popular stocks among traders. Here’s a look at each stock’s chart to see which may be the better buy.
Read more here about why the stocks are moving.
Tesla Daily Chart Analysis:
The stock recently bounced off the 50-day moving average (green).
The stock is trading above the 200-day moving average (blue), indicating bullish sentiment. These moving averages may hold as support in the future.
Key Levels To Watch: The $800 level previously held as resistance on the chart and could do so again in the future.
The $600 level recently held as support and potentially will again in the future.
The stock is in a channel between these two price levels and would need to cross one to possibly see a more powerful move.
Nvidia Daily Chart Analysis:
The stock is trading above the 50-day moving average (green).
The stock is trading above the 200-day moving average (blue), indicating bullish sentiment.
These moving averages may hold as support in the future.
Key Levels To Watch: The $600 level previously held as resistance on the chart before breaking out, the stock needs to consolidate above this area to see another potential push upwards.
The $475 level recently held as support and potentially will again in the future.
The stock is in a channel between these two price levels and would need to cross one to possibly see a more powerful move.
The Better Buy? Both stocks may be solid investments for long term holders.
Traders need to decide themselves whether or not to buy a stock. Tesla needs to bounce and hold the support level, and Nvidia needs to consolidate above the previous resistance level.
Photo courtesy of Nvidia.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
