Looming AI Power Stock?
NASDAQ:MRVL The Chip Designer Company is a must watch stock especially this week with the upcoming earnings report.
This is my strategy:
Using Bollinger Bands and Fibonacci Retracement, we see a consistent trade volume and slight increase in volatility as the price drops below the SMA and nears the lower band. The price is currently $76.68. We can expect it to reach a price target of $77.75 (test strategy here) for uptrend confirmation.
Semiconductors
Semiconductor Bull Run: Is it OVER?AMD is experiencing a breakout from the falling wedge pattern, which is a bullish signal. Currently, the stock is above its immediate support zone and ended the last trading session with a bullish harami candle.
Although sell pressure seems unlikely given the current levels, keep an eye on the medium-term support zone to reassess your trading strategy if needed.
These levels are suitable for options trading and could result in excellent swing trades based on liquidity analysis.
The price target is between $185 and $190, with the potential to reach $200 if the bullish momentum continues.
Let's monitor how this develops.
Earnings Strength before Slight PullbackHello everyone, happy Monday. Here I am presenting my idea of a strong bullish continuation by NASDAQ:AMD going into tomorrow's earnings. Despite the already strong momentum upwards, I believe we see further buying action after tomorrow's earnings into the lower $200s along with strong buying action across broader tech in $PYTH:QQQ. I believe both these securities will top out short-term in the upcoming 4-6 weeks before a brief pullback to the $149 price point before a further continuation upwards.
Position: Shares (added between 2018-2020); holding long-term.
Please let me know your thoughts and feedback and happy trading!
Technical Study of Fundamental Support for NVDA EarningsNASDAQ:NVDA is the NYSE:GE , NASDAQ:MSFT , or NYSE:GM of prior Great Bull Markets of the past. It is overly influential; when it moves so too do most of the other semiconductor, electronic components, gaming stocks, etc. Too much importance is placed on this one lone stock. It is just one of many companies that are leading this new Great Bull Market.
However, NVDA has an earnings report due out Wednesday May 22. The black line defines the support that has held the stock even when the overall sentiment of retail groups was selling other stocks down more steeply than this one. The sideways trend is not developed enough at this time to pattern out any excessive pricing above fundamentals.
The question is where are the fundamentals right now--obviously well above the lower level outlined in blue, which was the previous fundamental support level.
The sideways support of February, outlined in orange, was the start of a fundamental support level before retail traders and smaller funds went bonkers on their excitement about NVDA beating expectations.
One good indication that fundamentals are within the current wide sideways trend is the fact that this stock has been trending back up to a narrow sideways trend, outlined in green.
Watching this stock this week can provide some more information for pre earnings run activity. Holding through to the earnings date poses higher risk as HFTs are gapping stocks down on earnings news that is not bad news but a minor weakness somewhere in the earnings report.
Intel - What is going on?Hello Traders and Investors, today I will take a look at Intel Corporation.
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Explanation of my video analysis:
In April of 2022 we saw a major break towards the downside on Intel stock which was then followed by more bearish continuation of roughly -65%. Then Intel retested a multi year long structure and created a pretty decent bullish reversal and a strong (short covering rally). At the moment Intel just rejected previous structure and is now in a massively bearish market soit is best to just wait for this volatility to calm down.
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Keep your long term vision,
Philip (BasicTrading)
NVDA Update: How Low Can She Go?NASDAQ:NVDA was over-speculated. It is a component of many ETFs based on all kinds of index funds, from semi-conductor ETFs to Big Blue chip companies, etc.
NVDA was the big loss stock for the NASDAQ on Friday. The huge down day was due to many retail investors and smaller funds running for the door. This has nothing to do with its earnings report. It is a universal panic in the stock market. Pro traders bought the stock in the last few minutes of the trading day. Now the stock is close to being a buy on the dip candidate.
The angle of descent is too steep to sustain but the price can collapse further as there is not a Dark Pool Buy Zone firmly established at this level.
Revenues and earnings have been showing exponential growth but the next earnings report is a month away. Just keep in mind that the economy is booming. We had a nudge of higher inflation mostly due to oil prices but some due to corporate growth. Inflation = Growth.
[Weekly] $AMBA #Ambarella is attractive.NASDAQ:AMBA #Ambarella
is currently testing a significant level. The lower wedge of a 10 years old extended channel . This is the 6th time the band is being tested. Even though testing a wedge several times weakens it. However, below it is almost a technical free fall zone to the 11: 12$ mark.
Keep it simple.
#AHMEDMESBAH
Nvidia - Struggling at the highs!Hello Traders and Investors, today I will take a look at Nvidia.
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Explanation of my video analysis:
For more than 6 years Nvidia stock has been trading in a pretty obvious rising channel formation. At the moment Nvidia stock is actually retesting the upper resistance trendline. Considering that Nvidia stock also rallied 650% over the past couple of months, it is quite likely that we will see at least a short term correction towards the downside, retesting the previous all time high.
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Keep your long term vision,
Philip (BasicTrading)
TSM: After Downgrading The Outlook, What To Expect?
Trend
- On the weekly chart: Clearly showing an uptrend.
- The uptrend channel has extended 100% and is expected to return to the middle line at least, with a chance of reaching the lower band of the original channel.
100% Symmetrical Projection: Uptrend “N” Patterns
- A 100% Symmetrical Projection of the initial swing (from A to B) and then projected from C. As a result, D was our initial target price.
- Without a symmetrical retracement from D to E, there's a resistance-turn-support at level D, and the price continued to rise. The target price was adjusted another 100% higher to D' due to the very strong momentum.
- However, the price failed to reach D' and fell below level D at $135, indicating that the momentum has dissipated. Additionally, on the daily chart, there's a support-turn-resistance to reinforce the level's importance.
- What's next?
The price may retrace 100% of the "extra force" of the blue box; or
The price is likely to fulfill the original symmetrical retracement from D to E.
N Pattern’s Target Price & Fibonacci Price Cluster
- The 0.5 Fibonacci Retracement of the entire swing from A to HH perfectly aligns with level E, which can be seen as one of the current target prices on the short side.
- The 0.618 Fibonacci Retracement of the more recent swing from C to HH is close to the low of the returning blue box.
- Both levels and the previous key resistance level at B form a tight zone, likely to be a significant support area (the gray area).
Conclusion
- After breaking below the key level at $135, TSM is expected to retrace to the tight range between $109 and $112.7.
- In other words, if you’re considering to buy more and invest in TSM, this tight support area presents an opportune entry point.
Not Financial Advice
The information contained in this article is not intended as, and should not be understood as financial advice. You should take independent financial advice from a professional who is aware of the facts and circumstances of your individual situation.
Micron Technology - 100% in 6 months!Hello Traders and Investors, today I will take a look at Micron Technology.
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Explanation of my video analysis:
Back in 2018 we saw a beautiful break and retest on Micron Technology which indicated even more continuation towards the upside. For over 5 years Micron Technology has also been trading in a quite nice rising channel formation and is now approaching the upper resistance trendline. I do expect a pullback and a retest of the previous all time highs and then just more continuation towards the upside.
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Keep your long term vision,
Philip (BasicTrading)
AMD - Finally a correction?Hello Traders and Investors, today I will take a look at AMD .
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Explanation of my video analysis:
Back in 2022 AMD perfectly retested the previous all time high which was turned support after AMD stock broke it towards the upside in 2020. Furthermore AMD stock also created a bullish symmetrical triangle formation and already broke out towards the upside. More often than not we will see a retest of the breakout level, potentially bullish confirmation and then the continuation towards the upside.
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Keep your long term vision,
Philip (BasicTrading)
NVDA:is the top in or $1000 nextNVDA go a little bounce on Friday from a little hidden bullish divergence in the MACD histogram. It also put in an inside bar, so, not a very good look at the moment. Right now, last Thursday's high and low will be the range to break. If this week price can break above $906, then the chance for making $1000 increases. Perhaps, that is what the company is looking for to maximize the stock split, or perhaps the market wants the magic number to unload.
If $857 break down, then the EW count gets momentum. But to confirm that the downtrend has started or not, we need a full 5 wave sequence completed. Along with a breach of the long term trendline, it will be sell every bounce for NVDA for the foreseeable future. Cycle degree wave 4 can last for a few years.
NVDA is going to be a bit difficult to trade in the short term, so, keeping an open mind and fast fingers will be crucial.
Relative Strength between NVDA and TSLA about to shift.Head and Should Pattern on TSLA/NVDA chart.
This chart basically shows the relative strength between these two stocks, if we have a follow through tomorrow. TSLA will outrun NVDA in the short-term.
Meaning:
1. If we are going to have a bounce tomorrow, TSLA will most likely to outrun NVDA.
2. If Non-Farm and Unemployment rate kill the market tomorrow, TSLA will most likely to drop less than NVDA.
However, I think SOXL is currently sitting at the trendline support. I think bounce is imminent in the near term.
Upward trending channel - ASX:SEMI (Long)SEMI currently sitting on upward trend line within established bullish channel.
Previous support line at $16.30 where demand triggered another uptrend to above $17.00.
RSI currently within average buying levels around ~56-60% showing higher highs, indicating another potential run back towards previous ATH SP level of $17.54.
Aiming to take a long position between $17.00 - $17.10 if buying pressure increases in the coming days.
Disclaimer: NOT financial advice, I am not a qualified finance profession. These ideas are my own based on my research. Please consult a licensed financial advisor before making any investment decisions.
Nvidia - Entering a bear market!Hello Traders and Investors, today I will take a look at Nvidia.
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Explanation of my video analysis:
For more than 6 years, Nvidia stock has been trading in a long term rising channel formation. We had the last retest of support in 2021 which was then followed by a +650% rally towards the upside. As we are speaking Nvidia stock is retesting the upper resistance of the channel and we might see a short term correction towards the downside to retest the previous all time high.
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Keep your long term vision,
Philip (BasicTrading)
Protective Puts to Ride SpeculationOverview
SoundHound AI ( NASDAQ:SOUN ) doesn't appear to be fundamentally sound, however, its technicals support a potential spike to around $15.50. While the rest of the market also appears to be nearing a peak, there may be a few more weeks of squeezing which is where SOUN may find a second, yet short-lived, wind.
Fundamentals
SoundHound AI has experienced significant negative income the last three years. There was an increase in cash flow which appears to be from the solicitation of its company's shares. The company has also downsized by 40% which it annotates in the 10-K Annual Report for 2023. Overall, my impression is that SoundHound is struggling to find its balance and is shrinking. I believe that the only reason it has surged as it much as it has is due to the market's overwhelming interest in artificial intelligence.
Strategy
Unfortunately it's not enough to be right about the health of a company especially when the rest of the market is chasing a high. Despite SOUN's lack of a healthy fundamentals, I would not be surprised to see a spike to the 1.618 Fibonacci level. This gives me the desire to utilize protective puts in case the market euphoria ends sooner than expected.
INTC Awaits a reversal from the bottom of the recent price rangeINTC in the past week trended up and reversed into a trend down which then went into a low
volatility narrow range consolidation to finish out the week. I see INTC as being in the bottom
of its recent trading range and ready to head higher inthe upcoming week. The RSI lines are
in the area of 35-40 and the slope of the regression line is rapidly decreasing. On the
15 minute chart based on the volume profite and a Fibonacci retracement I have marked
out two targets and the stop loss. I am going back to the well as INTC paid me in February
and appears ready for a swing trade long here. Although, it is in the shadows of NVDA and the
others INTC along with SOUN, DELL, HPE and been recent winning trades and going back
to what has worked in the recent past is my strategy here.
TXN rising and at fair value LONGTXN is on a 240 minute chart. It is a grinder from the 70s. I was there and a proud owner of
a TI programmable calculator costing $500 as a teenager. New cars cost $5000 for a nice VW
Bug ( got them nearly the same time). TXN has a role to play in semi-conductor and AI space.
It has been lagging others. The chart makes me believe that it is waking up. Buying after
a TTM squeeze at the mean of the anchored VWAP or the middle line of the bands is a way
to lower risk and get fair value. TXN was there for me back in the day. I am taking a long
trade now. It's time to get a full rebate ( or more with badly inflated dollars). TXN has retested
that mean VWAP line. It's good to go.
ON Semiconductor lags its leading peer Engulfing Candle LONGON shown on a 30 minute chart- has fallen behind but is a top 50 seached on the the Zack
website. It recently trended down from a push to outside the Bollinger Bands showing extreme
buying volaility and price action than a big fade into selling volatility and a slight compression.
The TTM squeeze fired just as price fell outside the lower band. Price rose abruptly into and
over the trendline and then printed a so called" Big Ass Candle" engulfing about five
hours of price action. This is a strong buy. ON will work to catch up with MU NVDA and the
frontrunners. I will profit while it runs that race.
TERADYNE (TER) a AI / Chip Sector Stock SHORTTER shown here on a 30 minute chart has asended in a diverging channel to the resistance of
January pivot high shown in the line and zone drawn onto the chart. My idea is to short it
from here targeting first about 106 which is the line drawn from a pivot before the
paradoxical fall with a decent earnings report. The lower target is the support trendline of
the channel or about 103.5. This is about a 6% potential trade and more with margin or
put options. I expect the trade to last two days as falling down is usually quick than rising.