Nvidia - up 5 days in a row now

Taking a look at Nvidia as its stock is now up 5 days in a row. Currently, its shares are trading at around $957.91 a share during the pre-market trading session, we can see that the price is now heading towards the upper band of the Bollinger Bands. The resistance here now sits at $967.38 then at $973.87 and then along the upper Bollinger Band, which reads $985.42. A move and close above $985.42 would then allow investors to eye up the next psychological target of $1,000 and beyond. However, we can see that quite often when the stock’s share price reaches the upper band, it tends bounce away from it due to resistance and then continues higher. Some could argue that it forms ‘bull flags’ – a trading pattern. Towards the downside, the first support level can be found at yesterday’s low of $931.01. A break below this low could then see a slide lower towards $908.03 and maybe even as low as the middle moving average of the Bollingers, which currently reads $885.41. Looking at the technical indicators, the MACD is slightly negative on the daily timeframe but looks like it may turn positive once again. Whereas the RSI is already positive, though it is trading near ‘overbought’ conditions.