Targeting $902 in (b)We tagged my long held target yesterday of $834, and now I'm of the opinion we get a corrective retrace targeting $902 before seeing lower.
Best to all,
Chris
NVDA
NVIDIA (NVDA): Why $1,077 Could Be Just the Beginning!NVIDIA (NVDA): NASDAQ:NVDA
In our last analysis of NVIDIA, we presented an alternative scenario. However, given NVIDIA's relentless momentum, we find ourselves needing to adjust this scenario once more. We are now inclined to believe that we are still within a subordinate Wave 3 of the overarching Wave (3), anticipating that the price must reach at least the $1,030 mark, particularly considering the subordinate Wave ((iii)) precisely hit the 461.8% level.
Following a rapid sell-off to Wave (a), we've observed the formation of Wave (b) with a three-wave structure right at the 100% mark. This leads us to position an entry for Wave (c) or Wave ((iv)), as we theoretically should achieve the 100% mark here too, aligning with the minimum 23.6% level for a Wave 4 around the 100% mark, thus establishing our entry point.
Moreover, the gap present, along with the underlying support zone, could be crucial. Hence, we're setting our stop-loss just below this zone. For the upward movement, we anticipate that the subordinate Wave ((v)) of Wave 3 could reach at least up to $1,077, fitting within our minimum target range for Wave 3 and aligning well with our expectations. Should the price drop below this level, other zones could potentially accommodate a Wave ((iv)), but such a scenario would not be as rule-compliant, making this current scenario more likely than others.
Considering NVIDIA's recent performance, this setup presents a favorable risk-to-reward ratio for a short-term trade.
R:R - 6.3
Risk: max. 1%
Nvidia Enters Correction Zone After Plummeting by 10%Chipmaking giant Nvidia ( NASDAQ:NVDA ) finds itself navigating the stormy seas of correction territory. With shares down 10% from their recent all-time highs, investors are left wondering: what lies ahead for this AI powerhouse?
Nvidia's ascent to prominence has been nothing short of remarkable, fueled by the insatiable demand for its graphics processing units (GPUs) in the era of artificial intelligence. From powering compute-intensive AI applications to serving as the backbone of data centers, Nvidia's chips have been instrumental in driving the AI revolution forward.
However, as the dust settles and the euphoria of past gains fades, investors are left pondering the reasons behind Nvidia's recent downturn. One catalyst could be the unveiling of Intel's new AI chip, Gaudi 3, which promises to rival Nvidia's most advanced offerings. Boasting superior power efficiency and faster AI model processing capabilities, Intel's chip represents a formidable challenge to Nvidia's dominance in the AI space.
Moreover, analysts at D.A. Davidson have raised concerns about a potential cyclical downturn on the horizon for Nvidia. They point to factors such as the shrinking size of AI models and increased competition from alternative solutions, which could dampen demand for Nvidia's stock in the coming years.
Despite these headwinds, Nvidia ( NASDAQ:NVDA ) remains a titan in the world of AI technology, with a track record of delivering stellar financial performance. The company's recent earnings report showcased a staggering 486% jump in non-GAAP earnings per diluted share, underscoring the continued strength of its business.
As investors grapple with the uncertainty of market corrections and the evolving landscape of AI technology, Nvidia stands at a crossroads. Will it weather the storm and emerge stronger than ever, or will it succumb to the pressures of increased competition and shifting market dynamics? Only time will tell.
In the meantime, investors would be wise to keep a close eye on Nvidia's strategic moves and technological advancements, as they may hold the key to its future success in an ever-changing landscape.
Technical Outlook
Nvidia ( NASDAQ:NVDA ) stock is in a downward Trend with the stock closing at 2% loss in Tuesday's trading session. With a weak Relative Strength Index (RSI) of 44.99 paving way for further decline. Nvidia's ( NASDAQ:NVDA ) 4-month price chart shows a three-black bearish crow candlestick pattern further attesting to the bearish trend of this thesis.
In conclusion, while Nvidia ( NASDAQ:NVDA ) may be facing challenges in the present moment, its long-term prospects remain promising. As it adapts to the evolving demands of the AI market and navigates the complexities of correction territory, Nvidia has the potential to emerge as a resilient and enduring force in the world of technology.
NVIDIA CALLThe price drop slowed down on a daily demand zone and we can expect a new rally from the current area to $814, $840 and $890 price points.
NVDA breaks below support lineNVDA today broke below its support line after breaking its long term upward trend on April 4th.
Broke upward trend and held breakdown earlier this week.
Broke below support today on strong volume indicating confirmation of movement.
Started to recover on weak volume indicating disagreement on movement.
I am expecting NVDA to come back up to support, test it and fail continuing its decline.
Action item: closed my long position and opening an option put.
Come to Daddy NvidiaI have long been warning that Nvidia was on a path to tag $834 for a while now, Followers of mine can search previous posts. I received a ton of criticism about my analysis...even ridicule at times.
...and here we are on the verge.
My only question is do we get deeper into the target box?
Best to all,
Chris
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.
NVIDIA CONSOLIDATION VS EXPANDING CHANNELEven though the price of NVDA has done a bearish breakout on the expanding channel, the price remains under pressure inside a consolidation zone. Here we must wait for the price to confirm another bearish breakout below the lower boundary to validate the bearish projection. Here I am expecting a downward shift back towards the key level held on the bottom.
Why did HPE Breakout?As shown on the one-hour chart, in the last trading session, HPE broke out of its usual trading
the range being the blue high-volume area on the profile. This is with increased volatility as
shown by the indicator and the large top wicks on the rising green candles. Why did this
occur? Were traders simply buying anything in the IT sector vaguely related to AI after the
NVDA breakout? Does HPE have a role in artificial intelligence? Was this a sympathy play?
The Luxalgo Supply / Demand indicator shows supply immediately overhead. The wicks on the
last several candles show a defined level. This might be called a " tweezer top " Overall,
I see this as an excellent short setup to be played with either short selling or a put option as the
retracement seems inevitable.
NVDA Nvidia Double Top If you haven`t bought NVDA before the previous earnings:
Then it's important to note that technically, we're currently in a double top formation, which is one of the most bearish chart patterns. While I anticipate NVDA to rise by the year's end, it appears bearish for the next month.
Nvidia Heads towards Long Held Target of $834I recently gave an explanation for b-waves that stated:
Sometimes B-waves can be difficult to track as an Elliottition. B-waves, and wave 4's serve a very healthy, potentially complex, but totally rational role, in the advance or decline of price within a market place/security. They represent the competing viewpoints about the direction of a security and it is within these areas, market participants are willing to dedicate capital to see their perspectives come to fruition. Ultimately, we know they're wrong, because these pattern attributes are counter trend areas of consolidation, technical reset, etc.
With our (b) wave completed, we can now turn our attention to the target box where the $834 should be visited on a minimal basis, with the outsized chance of $753 to get even deeper in the target box.
From there, we'll make an assessment as to potential future price forecasts.
Best to all,
Chris
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.
SEMI should be bouncing soon.As shown in the chart.
SOXL is still a higher low along on the trendline, seeking a bounce tomorrow.
I would take loss if SOXL dropped below 38.95. Otherwise, it should be ABC wave up to 53.
SMCI Critical level IncomingSMCI saw a nasty down move today with the market.
Semiconductors led the downside move today.
It seems massive amount of capital rotated out of the market today.
This low float volume stock can unwind in a sharp way if this support is breached.
Remember dip buyers will likely start to accumulate as semis are coming from All time high bull market.
Everyone is watching the potential head & shoulder pattern that could trigger with more weakness.
NVDA indicates a bearish divergenceComparing the price action to the RSI 20 indicator we can see a bearish divergence forming.
RSI is trending downward
Price action is continues to trend upward during same time
Gives indication that a reversal is becoming likely
RSI still remains above 50 which is bullish indicator overall
While NVDA has gone on tremendous tear lately we start to see signs of weakness in the price action and RSI. This does not mean its time to sell. I would recommend tightening up stop losses to protect against possible downside risk.
BTC - Aiming for 80K over Easter? 🥚🐰📉Hi Traders, Investors and Speculators of Charts📈
Fractals are a helpful way to identify how markets have previously moved. When identifying a similar pattern, it can be useful to speculate future potential price action. In my previous updates, I've mentioned the two scenarios that I foresee for BTC after reaching a new ATH. I'm leaning towards the NVDA fractal, which you can find here:
The reason why I believe higher prices is likely for the SORT TERM, is due to extremely bullish buying pressure on lower timeframes:
The MACRO is also VERY BULLISH:
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$NVDA to go over $1000 for blow off top?NVDA had a great reaction to earnings and I don't think the move is done yet.
Over the next few weeks, I think we'll witness a monster move higher for NVDA.
Once it surpasses the $855ish range, we should see a straight shot up above $1000.
Think we're likely to top above $1050.
I bought calls prior to earnings 3/8 $740C and some lotto tickets 3/8 $1050C.
Let's see if we can get up there.
$834 Next TargetNvidia is working it's way through a b-wave retracement and may get slightly higher before resuming it's downtrend towards $834 with a chance of tagging $753.
Best to all,
Chris
Stock Market Analysis: NVDA Losing Leadership?Stock Market Analysis: NVDA Losing Leadership?
Since the start of the week, the S&P-500 Index (US500) is up about 0.58% while NVDA's share price is down about 3.8%. This is a worrying sign for Nvidia stock investors — could it be a sign that NVDA is no longer the market leader?
Dubravko Lakos-Bujas, JPMorgan's chief equity strategist, warned of a potential "surprise" shock to the stock market, Bloomberg reported. He's noticed a trend in recent history where gains in popular momentum stocks like NVDA are often followed by corrections. This situation has repeated itself three times since the 2008 global financial crisis.
“One day this may happen completely unexpectedly. This has happened in the past; we’ve had flash collapses,” Lakos-Bujas said in the webinar. “One large fund starts cutting some positions, a second fund hears this and tries to reposition, a third fund is basically caught off guard, and then, you know, we start to unwind more and more momentum.”
He noted the potential for innovation in artificial intelligence as a major source of surprise, emphasizing that these opportunities are dwindling and risks are growing in the background.
Technical analysis of NVDA shares shows that:
→ so far the price is in an upward trend - its contours are shown by the blue channel;
→ yesterday’s close lowered the price to its median line;
→ the $960 level looks like an important resistance.
The all-time high is approximately 100% of NVDA's share price at the start of the year - the price has doubled in less than 3 months, so a correction appears natural in this extremely hot market. It is possible that the price of NVDA may roll back to the lower border of the channel and test the psychological level of $800 per share.
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.
XRPUSD vs. NVIDIA ( This is RIPPLE year) XRPUSD vs. NVIDIA ( This is RIPPLE year)
see >>1-2-3-4-5-6 points
History Repeating...
CRYPTOCAP:XRP / NASDAQ:NVDA
2017> xrp year
2024 > will be xrp year
XRPUSD/NVDA 1w cycle chart (fractal)
check the buy zones (grey boxes)
GMMA oscillator
NVDA/USD chart
Also check Detailed XRP Analysis
$NVIDIA-28th March-Long IdeaNVIDIA at current levels offers a good long/buy opportunity based on just technicals.
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.
