Friday’s mild bounce in the stock market is seeing some nice upside follow-through…despite a scandal at Nvidia. This bounce may or may not hold over the very short-term, but the real test should come later this month or early December.
One key stock is testing a critical support level. It’s oversold near-term, so it could/should see a short-term bounce soon. However, any meaningful decline below that support level after it works off its oversold condition will be quite bearish on a technical basis.