Tesla Inc. (NASDAQ:TSLA) and NVIDIA Corp. (NASDAQ: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.
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