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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.
NASDAQ:NVDA
by maikisch
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.
NLong
by bryandowningqln
NVDA Stock Price Recovers After 1.5-Month LowNVDA Stock Price Recovers After 1.5-Month Low Yesterday, NVDA’s stock price fell to 116.61 – its lowest level since June 5th. The bearish sentiment was triggered by Trump’s cautious remarks regarding the necessity to defend Taiwan from the threat of military action by China. The leading pre-election candidate suggested in a Bloomberg interview that the island should pay for US defensive support, leading to a drop in semiconductor manufacturers' stock prices: TSMC fell by 8%, and Nvidia shares dropped by 6.6% during yesterday's session, as its primary AI chip producer is Taiwan Semiconductor Manufacturing. However, today in pre-market trading, NVDA's price is recovering, rising above $120 per share. How might the situation develop further? Let us recall that on 10th July, we wrote about strong seller pressure above the $130 per share level. Since then, the price has declined by approximately 9%. Technical analysis of NVDA’s chart today shows that: → Bears have twice (indicated by arrows) aggressively pushed the price down when it was above the mentioned level; → The price found support from the gap zone around the $115 level, where bulls broke through the May highs on June 4-5; → The price is still moving within the upward channel (shown in blue), but has dropped into the lower half; → Additionally, the price has formed a wide bearish gap with the upper boundary at $125. Investor concerns should not only focus on Trump’s remarks but also on the fact that NVDA's price is underperforming the stock index, despite being a market leader in the first half of the year. If bears continue to hold the initiative, we may see signs of their aggression not from the $130 level, but from the $125 level – if this happens, the lower boundary of the current blue channel will be at risk of a breakout. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
NASDAQ:NVDA
by FXOpen
3
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
NASDAQ:NVDA
by maikisch
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.
NASDAQ:NVDALong
by Sublime_Trading
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
NASDAQ:NVDA
by maikisch
2