So CEO of NVDA has given an impressive speech recently. Read here
And the forum is full of optimism and hype about the share price going to the moon. We have seen this before and it is anyone guess what happens after it reaches the resistance level at 149.28. Will it break out and continue the rally much to the excitement and bet of many investors/traders? Or would there be some form of retracement perhaps due to the downgrading of the US ratings to AA?
I will not chase the high price as it it 3/4 to the top , leaving little meat to the profits and probability of going higher remains unknown but probability of it reversing half or towards support at 91.44 is a possibility.
Thus, I will not be looking at this counter for now. However, I am invested in the VOO ETF (replicating SPX) so indirectly, I am vested in Nvidia.
Fundamentally, this company is also overvalued from looking at its balance sheet. Of course, if the earning growth could match up, the share price can still continue to rally especially it is also a popular stock amongst many retail investors.
And the forum is full of optimism and hype about the share price going to the moon. We have seen this before and it is anyone guess what happens after it reaches the resistance level at 149.28. Will it break out and continue the rally much to the excitement and bet of many investors/traders? Or would there be some form of retracement perhaps due to the downgrading of the US ratings to AA?
I will not chase the high price as it it 3/4 to the top , leaving little meat to the profits and probability of going higher remains unknown but probability of it reversing half or towards support at 91.44 is a possibility.
Thus, I will not be looking at this counter for now. However, I am invested in the VOO ETF (replicating SPX) so indirectly, I am vested in Nvidia.
Fundamentally, this company is also overvalued from looking at its balance sheet. Of course, if the earning growth could match up, the share price can still continue to rally especially it is also a popular stock amongst many retail investors.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.