NVIDIA I expect an up move to the short zone NVIDIA I expect an up move to the short zone and then a down move to take profit 1 and then to the target
Nvidia
Nvidia Adds $330 Billion in a Single DayNvidia's stock valuation skyrocketed, adding $330 billion in a single day, surpassing its prior record gain of $277 billion.
This increase was fueled by Microsoft announcing a 60% increase in AI spending for 2024, totaling $69 billion.
Consequently, Nvidia's stock price surged nearly 13%, elevating its market cap to $2.88 trillion and making it the third-most valuable company globally, behind Apple and Microsoft.
Despite this record-setting performance, Nvidia faced a tumultuous July, with its stock price decreasing by 16% throughout the month, closing down 5% despite a partial recovery.
This decline reflected broader market volatility, as seen in the Nasdaq’s 1.5% drop. On Tuesday, Nvidia's shares dipped 7%, testing the crucial $100 support level.
However, the positive response to Microsoft's investment suggests Nvidia might maintain its momentum above this critical threshold.
Last month, the stock hit multiple highs, peaking at $140 on June 20, indicating strong market confidence. For Nvidia to surpass this record high, its stock would need an additional 20% gain.
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AMD Skyrockets Over 9%, Nvidia Rises: What’s Driving the Surge?Overview
Advanced Micro Devices, Inc. (NASDAQ: NASDAQ:AMD ) saw its shares soar over 9% in premarket trading on Wednesday, following an impressive second-quarter earnings report that exceeded expectations. The strong performance has also positively impacted rival Nvidia (NASDAQ: NVDA), which experienced a rise in its stock price. Here’s a detailed look at what’s happening and why AMD is grabbing headlines.
Record-Breaking Q2 Performance
NASDAQ:AMD ’s second-quarter results were stellar, with revenue and earnings surpassing Wall Street's expectations. The highlight was a record surge in data center revenue, which soared to $2.8 billion, marking a 115% year-over-year increase and a 21% sequential growth. This surge was driven by high demand for AMD's Instinct, EPYC, and Ryzen processors.
CEO's Optimism
Lisa Su, AMD's CEO, expressed confidence in the company’s trajectory, stating, “Our AI business continued accelerating and we are well positioned to deliver strong revenue growth in the second half of the year led by demand for Instinct, EPYC, and Ryzen processors.” This positive outlook has further fueled investor confidence.
Strong AI Business Growth
A significant contributor to AMD's success has been its AI business. On the earnings call, Su mentioned that leading cloud and enterprise providers expanded the availability of Instinct MI300X solutions, and quarterly revenue for MI300 exceeded $1 billion for the first time. This milestone underscores the robust demand for AMD’s AI and data center products.
Impact on Rivals and Sector-Wide Rally
The positive sentiment generated by AMD's strong quarterly results has extended to other semiconductor companies, particularly Nvidia. Nvidia shares rose 5.40% to $109.40 in premarket trading, buoyed by the anticipation of its upcoming earnings report on August 28. Qualcomm also experienced gains, as AMD’s success provided a boost to the overall sector.
Geopolitical and Sector-Wide Factors
The semiconductor sector received additional uplift from reports suggesting potentially less severe U.S. export restrictions on China. According to news sources, new U.S. chip export restrictions might exclude allies like the Netherlands, Japan, and South Korea, which alleviated some concerns in the market. This news, combined with positive earnings, contributed to the rally in semiconductor stocks.
Global Semiconductor Rally
Shares of global semiconductor firms rallied on Wednesday, boosted by the strong earnings in the sector and favorable geopolitical developments. Samsung’s shares rose significantly after a notable jump in operating profit, and ASML also saw gains following the Reuters report on U.S. export restrictions.
AMD Stock Performance
NASDAQ:AMD stock, which had been down over 6% year-to-date, climbed 9.40% to $151.45 in premarket trading. If these gains hold, NASDAQ:AMD could erase its year-to-date losses. This strong market reaction reflects the confidence investors have in AMD’s growth trajectory and its ability to capitalize on the burgeoning demand for AI and data center technologies.
Conclusion
AMD's exceptional second-quarter performance, driven by record data center revenue and robust growth in its AI business, has significantly boosted its stock price and positively impacted the broader semiconductor sector. The appointment of CEO Lisa Su and the company’s strategic focus on high-demand areas like AI and data centers have positioned NASDAQ:AMD for continued success. As the semiconductor industry navigates geopolitical challenges and market fluctuations, AMD's strong fundamentals and growth prospects make it a standout player.
NVIDIA - Levels to Watch NVIDIA - NASDAQ:NVDA
The chart demonstrates a pattern of rising parallel channels for durations of approx. 142 - 152 weeks followed by 36 - 46 week corrections.
We are currently in a defined rising parallel channel and we are at week 92 of that bull trend, with a further 50 weeks probable based on the historic repeating timeframes. This does not guarantee a repeat timeframe of 142 - 152 weeks, but it does make it more probable.
⚠️What to watch out for?
▫️ Price breaching down and out of the short term parallel channel. This would be an initial warning.
▫️ Price falling below the 50 SMA would be a confirmation of a trend shift to bearish (blue line).
▫️ Otherwise, a roughly 142-152 month bull trend out to mid 2025 looks probable for now.
Another option to consider is that we trend sideways for 36 - 44 weeks like we did from Jan - Oct 2018. This type of sideways movement could travel along the top of the long term parallel channel (in blue).
Lets keep an eye on the short term parallel channel for that initial warning, otherwise happy trading the trend.
You can come back here at anytime and press play and you will get the price updated in terms of the levels marked.
PUKA
NVIDIA (NVDA) | Over a Long Time, Technically An Opportunity!Hi,
It's a bit hard to get in technically if the stocks are constantly making new higher highs without any certain pullbacks and NVIDIA was one of them.
Now we have seen some red weeks and we have an opportunity where some criteria are matching with each other around $100.
If you are still interested then it might be your chance.
Good luck,
Vaido
Critical moment for NVDANvidia is closing in on its 20W moving average, which has been a key support point for the last 3 years. If we see NASDAQ:NVDA closing below it for more than a week, expect more downside. Chances of holding the moving average are still on the table; however, a massive RSI divergence can be observed on the weekly timeframe, which skews the probabilities to a breakdown.
Be careful; it's the most crowded trade after all.
Nvidia: SlumpedNvidia dropped below the support level of $115.01. This development is in line with our primary view that the price is currently working on the magenta wave (2). This wave should lead to further sell-offs. However, please note our alternative scenario (27%) which assumes a higher wave alt. (III) top.
Nvidia possible >70% drop. 29/July/24NVDA price probably stalled at its long term trendline resistance (red), price could have "crashed" till 31 +/- where there is a multi confluence zone. P/s What Powell's "power speech' cause massive sell off on coming 1 August FOMC rate /statement ?
priceactiontds - weekly update - nvidia #6Good day and I hope you are well.
Last time I talked about Nvidia was 2024-07-06 and Nvidia was at 125.8 and my targets were 117 first and later 100. Low was 106.3, so my last post was good for 9$ or 15%. Hope you made some.
comment: My reading from 3 weeks ago was correct but market did another bounce in between to form a nice lower high double top. Yes, double tops can be slightly higher/lower and technically function as a double top. Why do you care if they are not perfect if the market is treating them the same way? The big round number 100 as a target remains and the current tight bear channel is decent enough to get us there. There is always the possibility of the pattern failing and market would break above the bear flag to test the highs again. Given the overall market weakness for the past 2 weeks I expect a bounce more than another strong leg down. Given that the upcoming week will have huge amount of big earnings, I think market will react to those and I am not in the business of forecasting earnings. So how does this information help with structuring a trade from the current price 113? Not much to be honest. Please red below bull/bear case.
current market cycle: Most likely a trading range. The strong climactic bull trend is over and market is most likely in the process for forming a trading range at the highs. The argument that the big bull trend line, currently running at 100 is intact and therefore the bigger bull trend is still ongoing is valid.
key levels: 100 - 140
bull case: Every bull who bought above 120 is underwater and since the ath was at 140, there a probably plenty. Market now dropped below 120 for the third time and if bulls can not strongly close above 120 soon again, they will give up for good buying high and will only buy pullbacks. Earnings end of August can be another surprise upwards but would you bet on another ath? Risky to say the least. Bulls need to keep the current bull gap, down to 96, open or the bull trend for sure is over and the upside around 140 limited, while the downside risk stays the same.
bear case: Last time I wrote again that this stock will half again and the current 26% drop is a pretty good start. That's enough to burn all late bulls and they will not buy high again. That is why my preferred path is a bounce over the next 1-2 days but the bear flag will hold until market touches the 100$ target. If the bull flag breaks convincingly, I am wrong and bulls took control again and will most likely test above 130 again. The measured move target (orange line) is also around the weekly 20ema and the big round number 100. More than enough reasons to test that price.
short term: Leaning slightly bearish but given the amount of earnings next week and that the overall market is due for a bigger bounce, more reasonable is to be neutral until you see strong momentum to either side.
medium-long term: This stock will touch 100$ in 2024 again.
current swing trade: Last time I said on the next weakness I'd short and my target 117 was good but market gave 106. No current position but will look for shorts above 130 again.
NVIDIA TO $90?There is a big volume divergence / selling going on on NVIDIA
Is there going to be a big dip to levels marked ahead of elections or a bounce from the trendline ?
Is NVDA parabola move over ?
comment below
Target Hit in the premarket low of $111.52Yes, we came within 19 cents of $111.33 which was my target....but if we can manage to rally now we retain the ability to make one more high as outlined in purple in the weeks to come.
However, if we fail to develop a 5-wave micro impulsive pattern from the premarket low of $111.52 or even fail to rally, and continue to subdivide lower and eventually breach $104.30, then this will constitute a confirmed top for primary wave 3 as depicted below.
Musk Hails Memphis Supercluster: Nvidia Stock Soars on AITech entrepreneur Elon Musk took to social media platform X to celebrate a significant development in the world of artificial intelligence (AI). In a post, Musk lauded Nvidia for their contribution to the launch of training for xAI's Memphis Supercluster. This massive computing facility, equipped with a staggering 100,000 of Nvidia's H100 GPUs, marks a significant leap forward in AI development.
The Power of Memphis: Supercharging AI Training
The Memphis Supercluster is no ordinary data center. Custom-designed for the specific demands of AI model training, it boasts a colossal 100,000 H100 Tensor Core GPUs from Nvidia. These cutting-edge processors are specifically architected to handle the immense computational workload required to train complex AI models. The sheer scale of the Memphis Supercluster signifies the immense processing power required to push the boundaries of AI capabilities.
Grok Gears Up for a New Era
The Memphis Supercluster isn't just a showcase of technological prowess; it has a clear purpose. This powerful facility is dedicated to training the next iteration of xAI's chatbot, Grok. While details about Grok's new capabilities remain undisclosed, the involvement of the Memphis Supercluster suggests a significant upgrade in its functionality. This could pave the way for more advanced natural language processing, improved reasoning abilities, and potentially even greater human-like interaction.
Nvidia Stock Rides the AI Wave
The news of the Memphis Supercluster's activation coincided with a surge in Nvidia's stock price. This rise can be attributed, at least in part, to the positive sentiment surrounding the project. The successful collaboration between xAI and Nvidia showcases the potential of H100 GPUs in the field of AI. This, in turn, could lead to increased demand for Nvidia's technology from other companies and research institutions working on cutting-edge AI projects. Additionally, the broader market may be recognizing the growing importance of AI and the role Nvidia plays in its development, leading to a general uptick in investor confidence.
A Look Ahead: The Future of AI
The launch of the Memphis Supercluster is a significant milestone in the ongoing quest for artificial intelligence advancement. The immense processing power it offers opens doors for the development of even more sophisticated AI models. As xAI trains the next version of Grok on this powerful platform, the world awaits with anticipation to see the new heights AI can achieve. This development, along with the positive reception of Nvidia's technology, suggests an exciting future for AI research and its potential applications across various industries.
NVIDIA (NVDA) "long price resistance" The resistance on the price of nvidia looks strong. The price is directionally moving upward. Some price decreases could occur but there are strong indications that the price will remain strong including potential to climb based on need or demand.
NVIDIA (NVDA) "disaster zone" temporarily Nvidia, on the news, people talking, I figured I would share this post with this chart indicator to give them a view of what this indicator would look like using it on Nvidia. The image appears to tell a story that the price is falling. For the moment there is a strong conviction that the price is going to decline. After a split, like with apple, the price does go through a period when investors leave because the price is no longer as expensive. Some people like expensive things and after a stock split the price is not as expensive. There are those superficial investors who only like expensive things.
Nvidia is back in the Target Box and Headed to test $111.33I want to make something clear. I have kept a purple arrow on my Nvidia chart for sometime. Purple is the color I associate my secondary expectations, or sometimes referred to as alternative. Black is my primary. All that means is the pattern has more than one outcome given the current price action we have.
In both cases, I expect price is to test the $111-$112 area, and that would be the normal area for a standard retracement. The precise price point of A=C for a measured move is $111.33.
There we should soon afterwards get important answers as to whether we extend lower, or find a bottom and head to new highs.
Chris
Nvidia Climbs 155% While Facing AI Ethical CriticismNvidia remains a significant player in the AI industry, grouped with companies like Apple and Anthropic, which have been criticized for training their AI technologies by extracting subtitles from 173,536 YouTube videos across over 48,000 channels, including content from notable creators such as MrBeast and PewDiePie. This practice violates YouTube's terms by using content without creator consent, posing legal and ethical issues.
Financially, Nvidia's stock experienced a substantial 86% rise from mid-April to June, followed by a stabilization period with prices oscillating between $117 and $140. Despite this slowdown, the company's year-to-date growth is impressive at 155%, with a potential for stock values to climb past $150 if demand for AI continues to surge.
The ongoing ethical debate around AI data usage underscores the importance of regulatory compliance and maintaining trust in the tech industry's use of content. This dialogue is crucial for shaping future AI governance.
Nvidia's Circle-b Wave StatusThere's an old analytical adage that goes..." nothing confirms price action like confirmation ". Not too helpful in the short term trading sense, but in the larger picture perspective it sure makes a lot of sense. I can make a case based on where price came into the Fibonacci Retracement zone of the .786% for corrective action that got smacked down... has topped...
...however, in a B wave, confirmation only comes with a break of the circle a-wave low down in the $117 area. Its a good start but since this chart is sooooo bullish, wait for confirmation. A break of $117 brings $1.04-109 into view MINIMUM.
Best to all,
Chris
NVIDIA15 minute chart.
Price Excess with Adjustable Recovery indicator, ideal for trading price excesses.
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Tesla : Approaching Key Resistance Level After Strong RallyBy analyzing #Tesla 's stock chart, we observe that after hitting the first bearish target last time, the price rose again. However, this time, the price did not drop from that level as we expected. Instead, it managed to rise powerfully to $260! Currently, Tesla is near a significant resistance level, and we need to wait for the initial reaction to this level. This analysis will be updated!
Please support me with your likes and comments to motivate me to share more analysis with you and share your opinion about the possible trend of this chart with me !
Best Regards , Arman Shaban
NVIDIA eyes opportunities in space computing with SpaceX launchNVIDIA Corp. is poised to enter a burgeoning market as SpaceX prepares to launch a satellite equipped with NVIDIA's graphics processing unit. This venture into space computing marks a significant step for NVIDIA, potentially opening up expansive new opportunities within an industry that sees growing demand each year.
The satellite, a collaborative effort between US startup Aethero and Cosmic Shielding, features NVIDIA's Jetson Orin NX module. This module, designed primarily for robotics and AI computing, could play a crucial role in the development of solar-panel-powered space data centres. These centres aim to address the significant power demands of AI, presenting a sustainable solution by leveraging the unique environment of space.
Technical Analysis of NVIDIA Corp. (NASDAQ: NVDA)
Exploring potential investment opportunities, let us review the technical aspects of NVIDIA's stock:
Timeframe: Daily (D1)
Current trend: the stock is in an uptrend, currently testing the support line
Resistance level: 136.30 USD
Support level: 118.05 USD
Potential downtrend target: should a downtrend initiate, the downside target could be at 95.00 USD
Short-term target: if the uptrend resumes and the stock price breaches the resistance at 136.30 USD, a short-term target could be set at 150.00 USD
Medium-term target: should the upward momentum continue, the price might rise to 165.00 USD
Investors should closely monitor NVIDIA's progress in this space venture, as the successful deployment of its technology in orbit could significantly enhance the company's profile in space computing and lead to substantial growth opportunities.
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a weekly price action market recap and outlook - nvidia #5Good day and I hope you are well.
Last time I talked about Nvidia was 2024-06-08 and Nvidia was at 120.8 and my targets were 130/140. We are after the stock split so it's time for an update.
comment: Please check out my nvidia #4 post, to see how accurate it was. I wrote that once the W5 or third push up is done, we will see a 10-20 bars sideways to down correction. Since the first leg of the correction made 16% down, we can expect a second one, which would bring us to around 100$ (weekly 20ema is also there), which is an obvious magnet. There bulls can decide if they want to continue the bubble.
current market cycle: If we break below 114, we are probably forming a trading range between 100 - 140. If bulls buy this up again, bull trend continues.
key levels: 114 - 140
bull case: Everything as long as most bull trends hold. The big bull trend line is currently around 95 and bulls do not want a pullback that deep. They want this bubble to infinity and staying above the daily 20ema is crucial to do so. If they fail here, we will see 100$ soon. Having said all that again, it's a bubble and it will deflate. Maybe it already started and stock won't trade above 130 again for a long time. No one knows but the probable thing is a pullback to the weekly 20ema/100$ before market wants a retest of the ath. That can fail or even make a higher high before turning again.
Invalidation is below 100.
bear case: Parabolic wedge top broke to the downside but bulls still have 3 more bull trend lines as support. Bears are happy for now that they trapped all the bulls who bought above 130 and most stops will run around 115-118. Bears ultimately want to test the big bull trend line and the 100$ price. Thats a 40% drop and I wrote many times, that this stock will half again. Bears see the recent drop as strong enough for a second leg and the current trading range as a two legged sideways to up correction, which they want to break below from.
Invalidation is above 130.
short term: All bull targets are met and the ath will probably be tested. It's unsure if we get a second leg down first or after the retest. I slightly give it to the bears to push down to at least 117ish since the past days nasdaq & sp500 made new ath's while nvidia held below 130. Trapped bulls who bought above 130 will give up below 119 latest.
medium-long term: Over the next 6 months we should see the 1000 price area again and 6-18 months we most likely will see 800-900 again. --unchanged
current swing trade: Waiting for weakness on Monday and if bulls can't trade it back up, will do long term shorts for 100$.
AMD 200 BY SEPTEMBER !AMD Long 200 BY SEPTEMBER
Forecast: According to Long Forecast, AMD’s stock price is expected to start September 2024 at around $174 and reach a maximum of $177, with an average price of approximately $167 by the end of the month. This projection suggests a -5.7% change from the initial value.
PandaForecast: The weighted average target price per AMD share for September 2024 is $151.81, with a possible monthly volatility of 6.201%. The pessimistic target level is $146.28, while the optimistic target level is $155.95.
Personal Finance Freedom: Their forecast indicates an average price of $170 for September 2024, reflecting an expected increase of approximately 14.8% during that month.
StockScan: The average price target for AMD stock in 2024 is $180.52, with a high forecast of $227.30 and a low forecast of $133.74. This represents a +10.14% change from the last recorded price of $163.90.
Nvidia - Massive rejection soon!NASDAQ:NVDA is clearly overextended after the +1.000% rally and ready for a correction.
Trees simply do not grow to the sky. And neither do stocks, especially Nvidia. I know that a lot of people are calling price targets of $250 and beyond, but we still have to respect gravity and the nature of fear and greed. Nvidia is simply overextended a retesting a 6 year resistance trendline. I do expect a correction between -20% and -30%, but also -60% is definitely possible.
Levels to watch: $120, $50
Keep your long term vision,
Philip - BasicTrading
