Nvidia (NVDA) Just Flashed Golden Cross Signal: Do You Buy?

Nvidia (NVDA) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, NVDA broke through the 20-day moving average, which suggests a short-term bullish trend.The 20-day simple moving average is a popular trading tool. It provides a look back at a stock's price over a 20-day period, and is beneficial to short-term traders since it smooths out price fluctuations and provides more trend reversal signals than longer-term moving averages.Similar to other SMAs, if a stock's price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.Shares of NVDA have been moving higher over the past four weeks, up 6.1%. Plus, the company is currently a Zacks Rank #2 (Buy) stock, suggesting that NVDA could be poised for a continued surge.The bullish case only gets stronger once investors take into account NVDA's positive earnings estimate revisions. There have been 2 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.Investors should think about putting NVDA on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks