Which stock chart looks like the best buy?

Tesla Inc. (NASDAQ: TSLA) and NVIDIA Corp. (NASDAQ: NVDA) are two popular stocks among traders. Here’s a look at each stock’s chart to see which might be the best buy.

Learn more here about why stocks are moving.

Tesla Daily Chart Analysis:

The stock recently bounced off the 50-day moving average (green).

The stock is trading above the 200-day moving average (blue), indicating bullish sentiment. These moving averages could serve as support in the future.

Key levels to monitor: The $800 level was previously a resistance on the chart and may do so again in the future.

The $600 level was recently held as support and potentially will be again in the future.

The stock sits in a channel between these two price levels and should break through one to possibly see a more powerful move.

Nvidia Daily Graphics Analysis:

The stock is trading above the 50-day moving average (green).

The stock is trading above the 200-day moving average (blue), indicating bullish sentiment.

These moving averages could serve as support in the future.

Key levels to monitor: The $600 level previously held as resistance on the chart before breaking out, the stock needs to consolidate above this zone to see another potential push higher.

The $475 level was recently held as support and potentially will be again in the future.

The stock sits in a channel between these two price levels and should break through one to possibly see a more powerful move.

The best buy? Both stocks can be solid investments for long-term holders.

Traders must decide for themselves whether or not to buy a stock. Tesla needs to rebound and maintain the support level, and Nvidia needs to consolidate above the previous resistance level.

Photo courtesy of Nvidia.

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