NEW YORK – Shares of technology giant NVIDIA (NASDAQ: NVDA) closed lower on Friday, capping a volatile trading session that saw the stock give up early gains. The performance has left investors and traders watching closely to see if the downward pressure will continue into the start of next week’s trading.
NVIDIA stock closed the day at
1.63 (1.12%). The negative sentiment lingered after the bell, with the stock ticking down an additional 0.17% in after-hours trading.
The day’s chart reveals a telling story of seller dominance. After opening at $145.45 and hitting a session high of $146.20, the stock faced a sharp sell-off in the morning, plunging to a low of $142.65. While it managed to claw back from the day’s low, the stock failed to regain any significant upward momentum, trading mostly sideways for the remainder of the afternoon before closing near its lows.
Market Outlook: Will the Market Go Down on Monday?
Based on the technical signals from Friday’s session, the immediate outlook leans bearish. Here’s why:
-
Weak Close: The stock closed significantly below its opening price and near the bottom of its daily range, indicating that sellers were in control as the session ended.
-
After-Hours Continuation: The slight dip in after-hours trading suggests the negative momentum has not yet abated.
-
Key Levels to Watch: The day’s low of $142.65 has now established itself as a critical short-term support level. If NVIDIA’s stock opens on Monday and breaks below this price, it could trigger further selling and lead to a continued move downward. On the upside, the stock would need to decisively break back above the $144 mark to challenge the bearish sentiment.
While a single day is not a definitive forecast, the weak close and follow-through in after-hours trading point to a higher probability of a lower or challenging open on Monday for NVIDIA. The stock’s direction will likely depend on its ability to hold the $142.65 support level. Traders will also be watching for broader market sentiment and any news specific to the semiconductor industry over the weekend that could influence Monday’s open.
Disclaimer: This article is based on the analysis of the provided image and is for informational purposes only. It is not financial advice. Market conditions are subject to change rapidly.
