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Nvidia

How much better can things get? Potential double-top.After reporting earnings earlier last week, shares of NVIDIA have been struggling to march higher, and if you wonder how this is possible despite astounding results, here is some food for thought. The tech giant has experienced an unprecedented rally of more than 360% since October 2022, and it is no secret that the revolution in the AI sector has highly contributed to this fact. It did not take long until the talk in the news was all about large corporations investing hundreds of billions of dollars to fund artificial intelligence research and about AI disrupting various fields and reshaping the world as we know it. With this narrative playing out, the tech giant delivered outstanding performance for the second quarter of fiscal year 2024. Its GAAP-calculated operating income was up by 1,263% YoY, net income by 843% YoY, and diluted earnings per share by 854% YoY; then, on top of that, in the third quarter of fiscal year 2024, operating income increased by another 53% QoQ, net income by 49% QoQ, and diluted earnings per share by 50% QoQ. While these are indeed incredible results, more often than not, when things are starting to be too good, the situation starts to beg the question of how much better they can get. Therefore, it is also important to consider the broader economic context. There is an apparent slowdown in multiple sectors outside of technology, like manufacturing, real estate, cargo transport, etc. These other sectors could eventually ripple into the tech industry, impacting overall economic growth and investment. Moreover, replicating the astonishing success of the last year indefinitely is improbable. Market saturation, increased competition, and potential regulatory changes are just a few other factors that could contribute to the normalization of growth rates. Regarding technicals, RSI, Stochastic, and MACD have started to decline in the past few days (on the daily chart), accompanied by the formation of a potential double-top pattern. As these developments are bearish in nature, we are growing increasingly suspicious about the upcoming move in the stock. Consequently, we will be attentive to NVIDIA’s performance in the following days and weeks. Illustration 1.01 Illustration 1.01 shows the daily chart of NVIDIA and simple support/resistance levels derived from peaks and troughs. Technical analysis gauge Daily time frame = Slightly bearish Weekly time frame = Slightly bearish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
NASDAQ:NVDAShort
by Tradersweekly
8
When to sell NvidiaNamaste! Nvidia was one of the stocks which benefited hugely by the AI (Artificial Intelligence) boom. It corrected around 68% from its all time high during October 2022. Looking back at that time, I thought it as some serious happening because Meta was down around 76% , Netflix 77% , Tesla 72% , Amazon 55% , etc. I knew these were a good buys and probably sold at 100 or 200% gain . Off course I couldn't buy because I am Indian and trading in US markets is complicated. But now, I think it is time to book the profits in Nvidia at $490 . Key reasons affecting my decision: 1. The stock is overvalued. 2. AI hype is cooling off. 3. I am expecting a recession in the year 2024. 4. My bearish Instinct . Other things anyone can do:- 1. Sell at above mentioned prices and buy back at $347, which will result in around 30% in opportunity profit. Remember, I have nothing to win and nothing to loose. Any gain or loss arising out of my analysis is yours . Consider your financial advisor before taking any steps. Disclaimer: This article should not be considered as an investment or trading advice. The analysis is based on my understanding and experience in the markets. You must do your own analysis and/or consult your financial advisor before investing or trading.
NASDAQ:NVDAShort
by UnknownUnicorn7637383
7
New bottom in Q1 2024In recent weeks, it appears that market makers have managed to generated significant hype around positive news to get the market excited. However, it looks like they immediately capitalize on this momentum and sell off their bags. A good example of this behavior is when NASDAQ:NVDA last week reached alot of liquidity above $500, only to then dump. If we align the speed of the market pullback with the resistance line indicated in yellow, the possibility arises for a new bottom in Q1 2024.
OANDA:SPX500USDShort
by arcone
2
Nvidia Is Still Bullish💸Hello Traders, My name is Philip and I am just an average stock and indices trader with over 4 years of trading experience💻 ------------------------------------------------------------------- ➡️In today's video, I will analyse Nvidia for you🫡 ------------------------------------------------------------------- ➡️Let me know your opinion about today's analysis in the comments below👇 ➡️I will only enter a trading position if ALL of my trading/entry criterias are met! Keep your long term vision! P.S. Trading is risky and most beginner traders lose money!
NASDAQ:NVDALong
by basictradingtv
1
NVIDIA is at balance. Here are my long/short scenariosWhen you trade the Model of the Medianlines/Pitchforks, you know now that price of NVDA is at balance. Why? It's at the Center-Line. From here Chances for up or down are equal weighted Details? Well, price closed above the CL. This is bullish. Price usually pull back to it. Then it should continue to the other extreme, which is the Upper-Medianline-Parallel. If it fails it's target and instead open and close below the CL, we have a short at hand. OK, so how could we play either side? LONG: After the pullback to the CL, I watch for a upside continuation. I want price closing above a previous candle. Stop/Loss goes below the CL. Profit target is the U-MLH. SHORT: After a open/close below the CL, I'm short immediately and my stop is above the highest Bar above the CL. Profit target is the L-MLH. Save trading4all
NASDAQ:NVDA
by Tr8dingN3rd
2
A Deep Dive into NVIDIA's Financial SuccessNVIDIA , a leading player in the world of accelerated computing and artificial intelligence, has once again demonstrated its financial robustness and strategic foresight in the technology sector. The company's recent financial report for the third quarter ended October 29, 2023, reveals a remarkable growth trajectory, emphasizing NVIDIA's significant role in the evolving landscape of computing and AI. Record-Breaking Financial Performance NVIDIA's revenue for Q3 reached a staggering $18.12 billion, marking an impressive 206% increase from the same period last year and a 34% rise from the previous quarter. This growth trajectory is not just a testament to the company's innovative products and services but also reflects the increasing demand for advanced computing solutions across various industries. The GAAP earnings per diluted share stood at $3.71, a more than twelve-fold increase from last year and a 50% increase from Q2. The Non-GAAP earnings per diluted share were even more striking at $4.02, showcasing nearly six times growth from the previous year and a 49% increase from the preceding quarter. Data Center Dominance A significant contributor to NVIDIA's success is its Data Center segment, which reported a record $14.51 billion in revenue. This figure represents a 41% increase from Q2 and an astounding 279% increase from the same period last year. The introduction of innovative products like NVIDIA HGX™ H200 with HBM3e memory and the integration of NVIDIA Spectrum-X™ Ethernet networking platform in servers from major tech companies like Dell Technologies and Hewlett Packard Enterprise have been pivotal in this growth. The Generative AI Revolution NVIDIA's CEO, Jensen Huang, attributes the company's robust growth to the broad industry transition from general-purpose to accelerated computing and generative AI. The company has positioned itself at the forefront of this revolution, offering comprehensive solutions like AI foundry services and NVIDIA AI Enterprise software. These offerings are rapidly being adopted by various sectors, including large language model startups, consumer internet companies, and global cloud service providers. Future Outlook and Strategic Moves Looking ahead, NVIDIA expects its Q4 revenue to be around $20.00 billion. The company continues to innovate and expand its product line, evident in its recent launches in the gaming sector and professional visualization. For instance, the introduction of DLSS 3.5 Ray Reconstruction for enhanced gaming experiences and the release of TensorRT-LLM™ for Windows reflect NVIDIA's commitment to staying ahead of technological advancements. Diverse Growth Areas Beyond data centers and gaming, NVIDIA has made significant strides in professional visualization and automotive sectors. The company's collaboration with Mercedes-Benz to use NVIDIA Omniverse for creating digital twins of manufacturing and assembly facilities exemplifies its influence in professional visualization. In the automotive sector, NVIDIA's partnership with Foxconn to develop next-generation electric vehicles underscores its strategic vision. Conclusion: NVIDIA's latest financial report is not just a display of numbers but a narrative of a company that is effectively navigating the rapid advancements in technology. With its continued focus on innovation and strategic partnerships, NVIDIA is not just achieving financial success but is also shaping the future of computing and AI. As the era of generative AI takes off, NVIDIA stands as a pivotal player, driving growth and innovation in a world increasingly reliant on advanced computing solutions.
NASDAQ:NVDALong
by financialflagship
NVIDIA Incredible strength long-term. Is $1100 realistic?NVIDIA Corporation (NVDA) gave us a great bottom buy entry last time (October 22) we made a call on it and invalidated the Head and Shoulders pattern (see chart below): This time we look at it on the 1W time-frame where it is on the 4th straight green weekly candle, approaching the Higher Highs trend-line. The 0.236 Fibonacci retracement level and the 1W MA50 (blue trend-line) provide Support, while the 1W RSI is on a Bearish Divergence (Channel Down) but the 1W MACD is about to form a Bullish Cross. The last we had the above combination of indicators, was February 16 2021. At the time, the 1W MACD failed to make the Bullish Cross and the stock pulled back to the 1W MA50 but when it formed the Cross on April 12 2021, it broke above the Higher Highs. What followed was a 7-month rally to the -0.618 Fibonacci extension. As you can see, the symmetry between the two fractals is striking. When the MACD Bullish Cross takes place, we would assume a similar rise and the -0.618 Fib target will be at $1100. Is that in your opinion realistic for Q3 2024? ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:NVDA
by TradingShot
A Traders’ Playbook; 2024 a year of central bank easing With a new set of weekly candles to assess, we see the USD looking weak, with the greenback having fallen on the week against all G10 and EM currencies, bar the COP - the risk seems skewed for further downside in the buck. EURUSD closed above the former rising trend (drawn from the March lows) and targets 1.0960 (the 61.8 fibo of the July-Oct sell-off), with USDCHF looking to pull below 0.8850, which would keep the bearish trend intact. GBPUSD closed above the 200-day MA, where a break of 1.2500 takes us to 1.2560. USDSEK was the big percentage mover last week, and we look ahead at the Riksbank meeting where a 25bp hike is touch and go. USDCNH is starting to trend lower too, and eyes a break of 7.2000. The PBoC has made it clear that their preference is low volatility, and they have done a sensational job is just about killing off any pulse in the yuan - after trading a tight range since mid-August, will they now step in front of a weakening USD? The fate of the USD resides in the data flow and Fed speakers – so far there has been limited pushback to the 100bp cuts priced for 2024, with US swaps pricing the first ‘live’ FOMC meeting for May. Many will see this as too soon and too punchy, but the market is betting against higher-for-longer, which is also the case in Europe, the UK, Canada, NZ, and others, with the market seeing the ECB kick off an easing cycle in developed economies in April. Central bank easing is a theme that will be front of mind for 2024, with some debate as to why the markets are discounting such easing. The central thesis is that with absolute conviction inflation is heading towards target, labour markets cooling sufficiently and growth at far more subdued levels the need to take rates to a more equilibrium state and out of restrictive is the fundamental reasoning. It’s when the market discounts front-loaded cuts that we see easing as a function of recession hedges, where a central bank would need to get policy rates below inflation. If we look at forward rate differentials – we look at the difference between 1 or 2-year EUR forward rates and that of the US forward rates – we have seen no real skew for US rates to move more aggressively on a relative basis, which would justify the USD sell-off. However, clearly, the US CPI resonated, and the idea that the right-hand side (i.e., USD data is more exceptional than other countries) of the USD smile theory is losing USD support. One could argue that if we work off pure central bank divergence – which has been a profitable way to capture moves in exchange rates throughout 2022 and 2023 – that 2024 could be the year of the JPY. Life is rarely that simplistic though. In equity land, we see consolidation in US indices, and with one eye on moves in the US Treasury market as a guide, where a downside break in the 10yr of 4.37% would be helpful, we subsequently watch for an upside break of 16k in the NAS100 – Nvidia’s earnings could be key here. It’s the EU equity bourses where the momentum is right now, with the GER40, EUSTX50 and SPA35 in beast mode and swing traders will be looking for a pullback to initiate new longs into December. I was positioned for outperformance in Chinese/HK indices but that has been a poor call and I have moved to the sidelines on that, waiting for more constructive flows to be seen. The marquee event risks for the week ahead: OPEC meeting (26 Nov) – the alliance meets in Vienna and with Brent crude in a steep downtrend, and having fallen 20% from the Sept highs, there have been headlines of imminent additional supply cuts to be seen at this meeting. As we head into the weekend meeting, traders with crude exposures need to consider the potential gapping risk in crude. UK Autumn Statement (22 Nov) – Chancellor Hunt offers the autumn statement with talk the govt will focus heavily on imposing sanctions for people who claim benefits and encourage people to take up employment. It feels unlikely this will a vol event for the GBP, although traders will keep an eye out for any tangible fiscal measures that could stimulate growth. Nvidia 3Q earnings (report 21 Nov after-market) – the market looks for another big earnings report from the best performing US stock in 2023 – the market prices Nvidia’s implied move (derived from options pricing) at 7.1% on the day. The market will go into the report positioned for an upside surprise relative to consensus, with expectations that we see data centre sales of $15b. There will be a strong focus on guidance on the impact of US restrictions on AI chips to China and how this could impact data centre sales for 2025/26. The bulls will want to see a fourth consecutive share price increase on quarterly earnings and will naturally want to see a break of $500, which has kept a lid on the share price on seven occasions. US Thanksgiving holiday (23 Nov) – cash equities are closed, and futures have partial settlement. Economic data to navigate: • China 1 & 5-year Prime Rate decision (20 Nov 12:15 AEDT) – while the market is on edge for further policy easing – notably for a further cut to banks Reserve Ratio Requirements – few expect a cut to the prime rate, with the 1-year rate expected to remain unchanged at 3.45% and the 5-year rate at 4.2%. • RBA meeting minutes (21 Nov 11:30 AEDT) - after hiking by 25bp I am not sure we’ll learn a lot of new intel from the minutes and traders are better listening to speeches from the RBA governor Bullock as the greater prospect of being an AUD vol event. • US leading Index (21 Nov 02:00) – the consensus is we see the leading index fall 0.7% in October – some have seen this data point as a precursor to recessionary conditions, so a big downside miss may impact the USD. • Canada CPI (22 Nov 00:30 AEDT) – the economist’s consensus is we see headline CPI at 3.1% yoy (from 3.8% yoy) and core CPI at 3.6% (3.8%). The expected drop in inflation justifies Canadian rates pricing with the first cut being priced for April 2024 and 64bp of cuts being priced over the coming 12 months. • US FOMC minutes (22 Nov 06:00 AEDT) – after the recent Fed chatter, notably from Cleveland Fed president Loretta Mester (a known hawk), who failed to push back on market expectations for rate cuts and suggested the debate is now how long to keep rates restrictive, it’s hard to see the FOMC minutes being too much of a market mover. • US Durable Goods (23 Nov 00:30 AEDT) – the market looks for -3.2% (from 4.6%). With US Q4 GDP running around 2.2%, a weak print here could see GDP Nowcast models being revised lower, which may see US bond yields pull lower and promote USD selling. • UK S&P Global manufacturing and services PMI (23 Nov 20:30 AEDT) – the consensus is for manufacturing to come in at 49.9 and services PMI 50.4 – A services print below 50 may see bond yields lower, which would drag down the USD. A Services print above 51.0 would revisit calls of US exceptionalism and promote USD buyers. • EU HCOB manufacturing and services PMI (23 Nov 20:00 AEDT) – the consensus is for manufacturing PMIs to improve modestly at 43.4 (from 43.1 in October), although that is still a woeful outcome. Services PMIs are eyed at 48.1, again a slight improvement from 47.8 – the EUR will be sensitive to the services print, where EU swaps markets price the first cut by the ECB in April and 86bp of cuts over the coming 12 months. • Sweden’s Riksbank meeting – it’s a lineball call on whether the Swedish central bank hike to 4.25%, with swaps pricing 11bp of hikes and 50% of economists surveyed by Bloomberg calling for a 25bp hike. We could see some vol in the SEK, so watch exposures. USDSEK has been in a strong downtrend, so the market is likely positioned long of SEKs going into the meeting. • US S&P Global manufacturing and services PMI (25 Nov 01:45 AEDT) – the market looks for the manufacturing index to come in at 49.9 (from 50.0) / and services at 50.3 (50.6) – we should see the USD, and risky assets more sensitive to the services print, and certainly if we see the index below 50.0 – the level where we see growth/decline from the prior month. Central bank speakers BoE – Gov Bailey speaks (21 Nov 05:45 AEDT) ECB – 10 speakers – Schnabel (22 Nov 04:00 AEDT) and Lagarde (22 Nov 03:00) get centre focus RBA – Gov Bullock speaks (Monday 10:00 AEDT & Tuesday 19:35)
Editors' picks
Long
by Pepperstone
10
Nvidia (NASDAQ: NVDA) Adds $200 Billion as Winning Streak Nvidia Corp. shares are poised to extend gains for a 10th consecutive session, their longest streak of advances since a record-setting dash in December 2016, as the world’s most valuable chipmaker updates its artificial intelligence processor. Nvidia has climbed about 20% during the course of this latest rally, adding about $200 billion in market value, according to data compiled by Bloomberg. That’s as rivals are scrambling to come up with alternatives to challenge its AI dominance. The stock has rallied more than 230% this year through Monday’s close, making it the best performing component on both the Nasdaq 100 and S&P 500 indexes as the AI-driven frenzy fueled rallies this year. The latest surge comes as technology stocks rebound amid hopes that Federal Reserve interest rates have peaked. Update On Nvidia's Chip Nvidia said its updated chip, called the H200, will get the ability to use high-bandwidth memory, or HBM3e, allowing it to better cope with the large data sets needed for developing and implementing AI. Nvidia Set To Report Earnings On Nov. 21 Nvidia, which had been under pressure last month as new US rules banned the sale of its cutting-edge chips to China, is scheduled to report earnings on Nov. 21. Price Momentum NVDA is trading near the top of its 52-week range and above its 200-day simple moving average. What does this mean? Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
NASDAQ:NVDALong
by DEXWireNews
Nvidia: Checked out🏨✅NVDA stock did not miss the opportunity to head for our last relevant target zone in line with our primary assumption. As soon as the minimum requirement was reached, the stock immediately launched a 17% surge, confirming the anchoring of the low of the green wave within this zone. Those who used this zone to enter the long side can now tighten the stop to the entry level. From here, the price should rise significantly and soon break through the resistance at USD 521.39.
NASDAQ:NVDALong
by MarketIntel
NVIDIA: Bearish- SHARKS detectedNVIDIA: SHARKS detected In a significant industry shift, Baidu Inc. BIDU has reportedly ordered AI chips from Huawei in a move away from its longtime supplier Nvidia Corporation NVDA, signaling changes in global technology alliances. What happened: Baidu struck a deal with Huawei to supply artificial intelligence chips, marking a shift from its usual supplier, Nvidia, Reuters reported. The move is attributed to increasing US restrictions on technology exports to monitor: EMA.200 and EMA.50 GAPS around $423 and $306 the PRZ
NASDAQ:NVDAShort
by Le-Loup-de-Zurich
1
NVDA Possible short opportunityNvidia stock, though being of the leaders in the chip and AI markets, is making a strong possible short opportunity. When we look at the Weekly chart, we see a nice Head and Shoulders formation in the making. Points to consider if taking this opportunity: 1. I will be waiting for NVDA to drop below $400 mark, to be more precise, $398. I need this down pump for the entry to be valid. 2. When the play starts, I will set my SL close to $411 level. Why there you may ask? If the drop in price happens, $411 will be the level where 10EMA will be on the Daily time frame, and since this will be a short sell, I don't want to give the market the opportunity to test the higher part of the Neckline. The Neckline of the Head and Shoulders will be my exit point, if the price breaks above the neckline, I will most likely be closing the trade manually. 3. For the TP level , I am looking at couple of possibilities. First one, is the entire length from the Head to the Neckline which is in range of some $100 price movement. The second possibility, the more conservative one, will be the previous Higher High of the movement, sitting around $346.61 price level which is also where the 200EMA is currently at. The third one, is of course the 200EMA itself. As the price keeps moving, it will move as well, and if there is no strong market movement and price makes the second guess on whether or not it will go down, the 200EMA will be my "get out quick" point. Of course, as always, this is no financial advice. This is just my humble opinion.
NASDAQ:NVDAShort
by De_Banis
2
NVDA Analysis — Stuck in Island AloneGreetings dear comminity! In the vast sea of stock prices, NVIDIA ( NASDAQ:NVDA ) shines distinctively. 💜 If you appreciate our charts, give us a quick 💜 Presently priced at $408, it finds itself ensnared in an intriguing Island Pattern formation. This pattern implies an imminent pullback, with a likely destination being the gap level at $318. For astute investors eyeing long-term positions, this impending dip could offer an enticing entry point. However, a word of caution hangs in the air – tread carefully. While potential gains loom, the risk is equally palpable. Risk Management is Key: Avoiding excessive risk is non-negotiable. Prudent investors should keenly observe the price action as it unfolds towards the $318 mark. Analyze each movement, gauge market sentiment, and only then consider making your move. In the volatile realm of stocks, knowledge is power, and careful strategy is your shield. As NASDAQ:NVDA navigates this intriguing pattern, wise investors stand vigilant, ready to capitalize on opportunities while safeguarding their investments. Happy investing!
NASDAQ:NVDA
by Vestinda