NVDA: Don't Hold Your Breathe
Updated
I am only providing this perspective because if I was up big on NVDA over the extremely short period since Jan until May. Less than 6 months... 240%.
If I were you and you were one of these people I am referring to I would take profits before the weekend because if this is not what everyone wants it to be,
we will know for sure, early next week. You could always buy back in but just remember how it feels to be up as much as you are and if you have not lost a
significant amount of money, the opposite feeling, the result of having too much faith in the narrative and getting blinded by what could be, rather than what is,
is a 10x fold worse feeling than missing out one the remaining few percentile. If you have information, that I don't, than maybe you can hold on to this rally
with confidence. But from the information available and I take in quite a bit from as many different perspectives as I possibly can... I have not seen
anything that justifies the price action of this chart. As I said in the "NVDA: Short of the Century" chart update, I will not be convinced that I am
wrong about what I see playing out until after this weekend and we have an opportunity to see what holders of this stock do while most of you
out there, can do nothing in response. If this holds and the monthly candle prints healthy, I wouldn't be surprised if we saw $600, $800 or
even $1000 NVDA for NVDA. But I am not holding my breathe.
If I were you and you were one of these people I am referring to I would take profits before the weekend because if this is not what everyone wants it to be,
we will know for sure, early next week. You could always buy back in but just remember how it feels to be up as much as you are and if you have not lost a
significant amount of money, the opposite feeling, the result of having too much faith in the narrative and getting blinded by what could be, rather than what is,
is a 10x fold worse feeling than missing out one the remaining few percentile. If you have information, that I don't, than maybe you can hold on to this rally
with confidence. But from the information available and I take in quite a bit from as many different perspectives as I possibly can... I have not seen
anything that justifies the price action of this chart. As I said in the "NVDA: Short of the Century" chart update, I will not be convinced that I am
wrong about what I see playing out until after this weekend and we have an opportunity to see what holders of this stock do while most of you
out there, can do nothing in response. If this holds and the monthly candle prints healthy, I wouldn't be surprised if we saw $600, $800 or
even $1000 NVDA for NVDA. But I am not holding my breathe.
Note
All of the "this chart didn't age well" people out there, make sure y'all come back by here after this weekend and if that point you guys are rocketing higher, I will gladly agree with you all but if things don't quite work out the way you are hoping they are, than make sure to comment otherwise. That's the deal. Yeah?Note
NVDA EarningsNet Revenue Down -13% year-on-year
Net Income Down -21% year-on-year
Data Center
First-quarter revenue was a record $4.28 billion, up +14% from a year ago
Gaming
First-quarter revenue was $2.24 billion, down -38% from a year ago
Professional Visualization
First-quarter revenue was $295 million, down -53% from a year ago
Note
Thank you to the commenter Amaloyz for this information: \sec.gov/Archives/edgar/data/1045810/000104581023000095/nvidia-2023formsx3a.htm
I don't want to say I told you so but my intuition was screaming that something did not smell right about this whole situation and the implications of the reality of this move by CEO Jen Sun Huang are really going to be a bummer for a lot of people who trusted him unfortunately. Going to be very anxious to see what happens opening Monday.
Note
Have to Recommend the latest video from: Youtube Channel
The Maverick of Wallstreet
Is NVDA lying about earning?
youtu.be/V1_MeykNYBo
Note
The one reason that we could see NVDA with this type of price action is the crypto market and that could def be the case in light of China's recent news. Def funny business going on with the 5 pm Friday SEC filing. I do think that the crypto market is getting ready to pop off soon. It is the one reason that could be justifying the odd behaviour we've seen in the markets.Note
Fairly Significant Insider selling is beginning to show up for NVDA Kress Colette (EVP & Chief Financial Officer) May 30th Sale $406.51 - 6,124 2,489,468 538,745 Jun 01 04:36 PM
COXE TENCH (Director) May 26th Sale $379.00 - 100,000 37,900,000 3,397,136 May 31 06:26 PM
Drell Persis (Director) May 26th. Sale $386.03 - 7,800 3,011,042 35,478 May 31 05:20 PM
Shoquist Debora (EVP, Operations) May 18th Sale $305.00 - 23,084 7,040,620 139,860 May 22 04:35 PM
Note
Related publications
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.