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Which Stock Chart Looks Like The Better Buy?

Which Stock Chart Looks Like The Better Buy?

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:

tsladaily4-19-21.png

tsladaily4-19-21.png

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:

nvdadaily4-19-21.png

nvdadaily4-19-21.png

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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About the author

Christine Watkins

Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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