The CNBC Half-Time show does have the ability to shift bias in the market or in some stocks.
Josh Brown started the show by saying that he sold 20% of his Nvidia stock. The price was down on the day but has since moved to new session lows and currently trades down $-29.50 or -4.24% at $664.26. The high-price today reached $697.54.
That sounds like a lot but since January 3, the price moved up $47.42 from the load to the high reached earlier today. That is a big move.
Technically, the rising 50 hour moving average comes in at $638.52. The rising 100 hour moving average comes in at $616.20. Both of those moving averages could be tested on further downside momentum going forward.
Nvidia is one of those stocks that has not announced that there last quarter earnings. They are scheduled to release on February 21. Estimates right now are for earnings-per-share of $4.53 on revenues of $20.19 billion. That compares to $0.88 a year ago on revenues of $6.051 billion. There is justification, but has the price down too far too fast
the NASDAQ index is now down around 50 points or -0.33%. The S&P is near unchanged at 4941.87, and the Dow Industrial Average is up 102.60 points as there is a rotation going on.
