Long

NVDA will likely pump to 314 next week

Updated

I believe the broad stock market is near its high. But, there is still money to be made where optimism remains high. NVDA is forming a 5th wave at a minor degree. I believe, by this Friday, NVDA will reach at least 314.41. I specialize in very out-of-the-money options; There is an opportunity to take a 310 call expiring next Friday. If you want to take the trade aggressively, you could (in theory), enter here. If you want confirmation, a break above the minuette wave 1 at 292.20 would give you that confirmation you are looking for. This is just an idea. Executing this trade is at your own risk, this is not financial advice. Wave counts are a great tool to determine trend maturity, but it is not an exact science.

I consider this trade invalidated below 272

Good Luck,
abardini

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this is a great spot for the markets to surprise traders. Wave analysts see this as a buying opportunity and standard TA calls for a double top and break of the channel (continuation lower). We will see if the markets satisfy my expectation.

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This represents an alternative perspective, albeit with a lower probability. In the event of a breach of the trendline, we can reasonably deem it invalidated. As wave 2 exhibited a sharp correction, it is probable that wave 4 will manifest as a more intricate pattern, potentially demanding a longer timeframe. Considering these factors, the primary count remains biased. I am personally disinclined towards the notion of a diagonal structure, particularly given the historical propensity of this stock for excessive optimism, which suggests an eventual climax characterized by a blow-off top.

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The trend line is approaching a critical juncture, poised to potentially break in the near future. Once this breach occurs, it would be judicious to remain attentive for a subsequent retest, as it could present a favorable entry opportunity (disclaimer: this is purely a theoretical observation and should not be construed as financial advice). Anticipate with keen interest the potential for NVDA to embark on a parabolic trajectory, as significant upward momentum becomes increasingly evident.

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Good looking! The new target is 312.46 instead of 314, now. I sincerely hope you all struck profitable trades for yourself!

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An alternative perspective persists in this scenario, wherein the possibility of breaking support tomorrow holds significant relevance. Should such support breaches manifest, it would serve as a corroborating factor for the validity of said alternative count.

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In light of the current market conditions, I have decided to realize partial profits from my positions. While I had anticipated a greater degree of market volatility and a decisive bullish breakthrough, the existing market structure implies a potential culmination or peak. Notably, the NASDAQ index finds itself in a precarious position, figuratively speaking, as it clings to stability by a tenuous thread.

Trade closed manually

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careful! we are in very scary territory! When the stock market begins its plunge the stocks with the highest optimism will take the biggest hit (NVDA, GOOGL, AAPL)

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At the time I initially shared this notion, NVDA was being traded at 286, and the 310 call option set to expire this Friday was valued at 45 cents per contract. Currently, that same contract is being sold at 3.70, representing a remarkable return of nearly 10 times the initial investment within a single week. Undoubtedly, this has been one of my most successful trades thus far, leading me to regret the decision to secure only partial profits.

Trade closed: target reached

The targeted price level of 314 has been effectively attained, and I find satisfaction in this achievement. However, I do lament the absence of an editor's pick designation for this particular idea. It is noteworthy that the 310 call option, which I recommended for viewers' consideration, exhibited a substantial surge in value, catapulting from 0.40 at the time of my initial post on May 11th to an impressive 7.50 as of 3:12 pm on May 18th. This remarkable growth equates to an astonishing return of nearly 2,000% within the span of a single week. Moving forward, I intend to provide a new idea once the opportune moment to initiate a short position arises. I extend my gratitude to all those who contributed their insights and comments.

Note

I will refrain from offering specific option recommendations to my viewers regarding this particular setup. There is a strong likelihood that earnings reports will serve as a catalyst for a rally, resulting in the completion of a smaller-scale wave 5. However, it is crucial to note that an ensuing decline is expected to follow immediately after this impulsive upward movement. It is something to watch, not something to trade.

BardiniCapital

Disclaimer

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