$NVDA | WEEKLY WATCHLIST 11/1One of my better counts that I'll be watching develop. We have hit and rejected the 1.618 fib extension wave 3 target of $257.32. I anticipate some distribution to occur this week near this level before an ABC major wave 4 retracement takes place. This should take us anywhere between $226-242 (I know this is vague for now since not much clarity yet) and should expect a bounce somewhere in this price range. Once we can confirm all of this is correct thus far, I will then consider starting my long swing for the wave 5 target of $290-300. Patience is a must here and we will most likely be tracking this setup for 2-4 weeks.
Nvidia
NVDA Update Target $240 then $250 TutorialHi...Chart is best viewed on a larger screen than a phone.
Please listen and read the notes and annotations on the chart.
There are a lot of trading point tid bits and how using the
markets own structure to take a position, if you really want to see.
Probably more than I can see...tell me what you see as well.
We can get smarter together.
Elliott Wave View: Bullish Move in Nvidia (NVDA) Should ExtendShort Term view in Nvidia (NVDA) suggests the rally from October 5 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from October 5, wave ((1)) ended at 213.22 and pullback in wave ((2)) ended at 204.33. Internal of wave ((2)) unfolded as a zigzag structure. Down from wave ((1)), wave (A) ended at 209.41 and wave (B) pullback ended at 212.99. Stock then resumes lower in wave (C) which ended at 204.26. This completed wave ((2)).
The stock has rallied higher in wave ((3)). Internal of wave ((3)) is unfolding as a 5 waves impulsive structure. Up from wave ((2)), wave (1) ended at 210.63 and pullback in wave (2) ended at 205.11. Stock has resumed higher in wave (3) towards 219.39, wave (4) ended at 216.44, and wave (5) of ((3)) should end soon. Afterwards, expect a pullback in wave ((4)) to correct cycle from October 11, 2011 low before the rally resumes in wave ((5)). Near term, as far as wave ((2)) pivot low at 204.26 stays intact, expect wave ((4)) pullback to find support in 3, 7, or 11 swing for further upside.
What's happening with NVIDIA stock? Boxes analysis.Hi everyone!
Today we take a look at spaceship of a stock NASDAQ:NVDA .
Nvidia stock has been booming since crypto market skyrocketed in 2016.
The company is overvalued from fundamental indicators viewpoint, but these kind of stocks seem to totally ignore the fundamentals.
Let us analyse the price movement using my favourite tools.
The orange trend channel is way too steep in my opinion and is unlikely to hold.
However, the stock seems to respect some key levels whcih are indicated on the chart.
My plan :
Check volume at the key levels.
Will consider starting a position at 178 if it holds with a decent bounce.
If we break 178, I expect the stock to meet the longer term grey trend line at 161. Then it is definitely a buy.
No FOMO.
Trade wisely and good luck!
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Disclaimer!!!
This is not financial advise.
$NVDAShares of semiconductor manufacturer Nvidia a supplier of chips for everything from playing video games to performing artificial intelligence tasks to mining cryptocurrency, dropped 2.2% through 10 a.m. EDT Friday. It's the last of those three chip uses -- mining cryptocurrency -- that seems to be weighing on the stock.
The People's Bank of China, you see, just announced that it is banning all cryptocurrency transactions in the country, and in particular, banning Bitcoin and Tether from circulating in China.
The move seems likely to weigh on Nvidia's business, but I wouldn't be too concerned for Nvidia stock despite the drop.
Consider: In its first-quarter earnings report earlier this year, Nvidia advised investors that a new line of semiconductors it had developed specifically for crypto mining generated $155 million in incremental revenue. Expand that out, and specific cryptocurrency-related revenue for the company may be as much as $620 million a year.
Now, that sounds like a lot, but as a percentage of Nvidia's $21.9 billion semiconductors business, it really amounts to just 2.7% of total revenue -- and even then, most of this revenue from sales to countries other than China should be unaffected by China's move.
Overall, I’m bullish on NVDA without question.
When we take a look at the daily & weekly chart you can see price has broken out of its ascending triangle to the upside and has also retested to see if it would act as support.
You have the MACD looking strong
& RSI sitting above 50.
Without question, this should be on your watchlist this week.
- Factor Four
NVIDIA may be entering an accumulation phaseSo far the 1D MA50 (blue trend-line) is supporting NVDA which has been inside a strong bullish trend since the March 2020 COVID crash. There is no better way to illustrate this than the Fibonacci Channel.
However there have time phase of accumulation where the price took a breather from the prior aggressive leg, trading around the 1D MA50 and rebounding only after it made contact with the 1D MA200 (orange trend-line). This has happened twice since March 2020 and the most recent accumulation phase has been September 2020 - March 2021.
If the 1D MA50 breaks, the stock may enter such a phase and initiate the next parabolic leg once contact is made with the 1D MA200. My thesis is to observe for that 1D MA50 break-out. If it comes wait until the ATH breaks ($230), in case there's no pull-back or the 1D MA200 before buying (which will be even better). As for the target, it appears that every Higher High within the Channel is +0.5 Fibonacci higher. Naturally the next one is at 2.5.
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NVIDIA (NVDA) Price Analysis with Buy/Sell areasWelcome back to yet another (stock) technical analysis using 4 different EMA's, fibonacci retracement, trendlines and key levels. Basing my buy areas on confluences of these.
I will sketch two scenario's of what I think the price will do based on technical analysis. This last part is important, because I want to remind you that this is a technical analysis disregarding fundamentals. You should always keep an eye the fundamentals of stocks together with a technical analysis.
The first scenario is that the 207 key level will break, after which price (I think) will bounce off the green area, based on the fib, key level, trendline and 50 EMA. After this, I think price will break the purple area, when it does, you can trade the break retest of this area.
The second scenario is when the 207 area will not break. Then I anticipate the price to react good to the 207 key level when it gets paired with the 3rd touch of the trendline. After this I think there is a sell area at the 250 psychological paired with the 3rd touch trendline, this area is highly speculative but depending on what the price continues to do I think this area is interesting in both scenarios.
If you look at my user profile, you will also find a video review on our channel!
INTC going 200$+++Intel can only go up from here, with all the hype stocks like AMD and Nvidia for example just relentlessly going up and are way overpriced at this point, you are overpaying for growth.
All you need to do is look at INTC 1999/2000 hype run up and 20+ years later the stock never made a new all the time. While the stock never made a new all time high i strongly believe now is the time for Intel.
With the new intel GPUs that are coming out early next year they will take market share from both Nvidia and AMD, the growth potential is almost unlimited for them as they start from zero.
CPUs are still not as good as AMD ones but Intel is still on 14nm process node while AMD is using TSMC 7nm and that is main reason they are ahead but the cap is not that huge, Intel is still on very old 14nm process node and are able to compete still with AMD just fine.
*Massive cash flow
*Intel 10nm is coming online soon.(It will be equal or better then TSMC 7nm)
*Intel is investing between $60 billion and $120 billion on brand-new fab complex.
*Intel got a alliance/deal with IBM(yes that boring IBM the research company) to use the new revolutionary 2nm process, IBM’s 2nm process offers greater density (more transistors per square millimeter) and lower power than TSMC’s 3nm(This news is so massive yet none talks about it).
*All Intel competitors are fabless and are using TSMC to produce the chips...even Apple. With China being unpredictable right now, tension with Taiwan would have unknown consequences. Nvidia, AMD, Apple etc all those companies would have no way to make the chips anymore, yes crazy right?
www.tomshardware.com
www.forbes.com
NVDA In Danger??Today I contemplated closing 75% of my long in NVDA as it is well in profit and I have much leeway right now to walk away and let a small amount ride. The reason for this is because NVDA has broken both a key upward sloping trendline as well as the .786 Fibonacci level on the daily and 4 hour time frames.
This does not have to be the end of the road for NVDA but it is not a bullish sign either to say the least.
It does appear, however, that Nvidia could be in for some short to midterm consolidation before regaining the needed momentum to break back above all time highs.
A few things that are good from a bulllish perspective is that a week ago we broke out of downward sloping resistance and managed to break and close fully above the .786 Fibonacci level not to mention we set higher highs in the process of doing that.
For this reason I am remaining in my long.. but there is a further issue. The issue is that we are in the process of putting in a macro lower high and this could be very bearish for the asset if it does not find bids this week and at the very least break back above $203. If not, a retest of the $198 price level could be very likely.
This entire range from $198 all the way down to $194 could be a great re-entry area for a long as there is much bullish confluence in this region which should provide for ample support.
It is this reason that I am remaining in my long. I will not be looking to add to my position should the price come down to the aforementioned price levels.. I will, however, remain patient by waiting and seeing if any bids come in at the green zone I have showing on the chart. If this green zone does not hold, I will be 75% out of the trade should we break and close a daily candle below the 0.5 fib level at $194.
Tomorrow's open and close on the daily chart could be telling. Keep in mind though, that the week has just started and NVDA has plenty of time to make up for the major, yet small ground it has given up to start the trading week.
NVDA [Update]So far on NVDA we are still up nicely on our original idea and as we predicted NVDA is now putting all of our fib levels to the litmus test as it finds itself right in the middle zone of the entire fib retracement.
I expected the .383 to be properly tested before liftoff and so far it is holding up.
If it can continue to hold, NVDA will find itself breaking out once more as a bullish falling wedge is now being painted on the 4 hour timeframe.
One could debate if this is valid or not due to the breakdown out of its lower trendline, and that is fine. Because what we are most interested in is the upper trendline of the falling wedge as it appears to be serving as resistance on the price.
This is not something to ignore as supply lines like this can often be a warning of an impending bearish downtrend if price continues to fail when touching it.
So for this reason I am moving my stop losses up to around $189.79. The reason for this is because of not only the bearish trendline over our head, but because a breaking to the downside of the .382 fib level with a confirming candle on the 4 hour could mean a retest of much deeper levels at or around the bottom of the falling wedge or our .236 fibonacci level. So closing my position in profit and buying right back in at a discount is what I will be looking for in the near future.
In the meantime, however, I am still in my long but I am monitoring closely. NVDA will need to get moving and break the red trendline but ultimately put in a higher high in price by breaking the .618 fibonacci level over our head but that discussion will be kept reserve for a future post or update.