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The broad market is still consolidating, but it’s a big week in earnings with major names like Nvidia reporting soon. NVDA reports on Wednesday, November 19, and I’m also looking at the charts of stocks reporting on Tuesday, November 18 as we head into the Thanksgiving and Christmas season.
🔍 Highlights
1️⃣ Nvidia (NVDA):
Forecast for 214.34 by November 19 remains technically intact as long as price stays above 176.76 (October 22 low). Above that, NVDA remains positioned to resume higher.
2️⃣ Home Depot (HD):
In a steady downtrend since September 17. Looks on track to revisit the July 16 and possibly June 18 lows while beneath the November 11 high.
3️⃣ Medtronic (MDT):
Recently put in a low in the Bear Support Power Zone and is now showing multiple green candles. On track to revisit the October 7 high.
4️⃣ Baidu (BIDU):
After a surge in early October, it’s working off overbought conditions. Forecast points toward the 100.00 area by late November while beneath the November 11 high.
5️⃣ La-Z-Boy (LZB):
Extended downtrend with repeated failures in the Bear Resistance Power Zone. A reminder that market breadth remains weak even as big stocks move higher.
6️⃣ Powell Industries (POWL):
Uptrend → pullback → RSI back into the Bull Support Power Zone. Watching to see if it holds above the October 14 low.
7️⃣ Sociedad Quimica y Minera de Chile SA (SQM):
Strong candles can mislead — zooming out shows price is simply returning to the December 28, 2023 range, which may act as resistance.
👉 Great example of what I teach in my Missing Trends Strategy.
So that’s my take on Nvidia, and we’ll be keeping tabs on her all week — along with the stocks reporting earnings on Tuesday, November 18.
If you found value in this video, whether it was a useful technical reminder or just a fresh way to look at your charts, go ahead and hit that like button.
~Hima
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