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NVDA trade ideas

NVDIA Technical buy now but recovery may take a bit longer.Last time we analyzed NVDIA corporation (NVDA) we called for a sell and clearly noted that it was not the time to buy yet (July 03, see chart below): Our $110.00 downside Target got hit last week and as the price remains below the 1D MA50, it has entered an accumulation zone, which in the past has been very short-lived (April 19 2024, December 28 2022) and the price rebounded to a Higher High instantly or more long lasting (August 14 - October 31 2023). In any event, NVDA has completed more than a -23.00% decline from its All Time High, which is the normal correction within the 22-month Channel Up, so that constitutes a new long-term buy entry for us. Our Target, whether we get a quick rebound or a longer-term one, is $170 (a 'modest' 2.0 Fibonacci extension). On a side-note, the 1D RSI (black trend-line at the bottom of the chart) is also below the 40.00 mark, which within the Channel Up pattern has been the top of the long-term Buy Zone. Note also that only a break below the 1D MA200 (orange trend-line), constitutes a long-term bearish reversal. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NASDAQ:NVDALong
by TradingShot
6
priceactiontds - weekly update - nvidia #6Good day and I hope you are well. Last time I talked about Nvidia was 2024-07-06 and Nvidia was at 125.8 and my targets were 117 first and later 100. Low was 106.3, so my last post was good for 9$ or 15%. Hope you made some. comment: My reading from 3 weeks ago was correct but market did another bounce in between to form a nice lower high double top. Yes, double tops can be slightly higher/lower and technically function as a double top. Why do you care if they are not perfect if the market is treating them the same way? The big round number 100 as a target remains and the current tight bear channel is decent enough to get us there. There is always the possibility of the pattern failing and market would break above the bear flag to test the highs again. Given the overall market weakness for the past 2 weeks I expect a bounce more than another strong leg down. Given that the upcoming week will have huge amount of big earnings, I think market will react to those and I am not in the business of forecasting earnings. So how does this information help with structuring a trade from the current price 113? Not much to be honest. Please red below bull/bear case. current market cycle: Most likely a trading range. The strong climactic bull trend is over and market is most likely in the process for forming a trading range at the highs. The argument that the big bull trend line, currently running at 100 is intact and therefore the bigger bull trend is still ongoing is valid. key levels: 100 - 140 bull case: Every bull who bought above 120 is underwater and since the ath was at 140, there a probably plenty. Market now dropped below 120 for the third time and if bulls can not strongly close above 120 soon again, they will give up for good buying high and will only buy pullbacks. Earnings end of August can be another surprise upwards but would you bet on another ath? Risky to say the least. Bulls need to keep the current bull gap, down to 96, open or the bull trend for sure is over and the upside around 140 limited, while the downside risk stays the same. bear case: Last time I wrote again that this stock will half again and the current 26% drop is a pretty good start. That's enough to burn all late bulls and they will not buy high again. That is why my preferred path is a bounce over the next 1-2 days but the bear flag will hold until market touches the 100$ target. If the bull flag breaks convincingly, I am wrong and bulls took control again and will most likely test above 130 again. The measured move target (orange line) is also around the weekly 20ema and the big round number 100. More than enough reasons to test that price. short term: Leaning slightly bearish but given the amount of earnings next week and that the overall market is due for a bigger bounce, more reasonable is to be neutral until you see strong momentum to either side. medium-long term: This stock will touch 100$ in 2024 again. current swing trade: Last time I said on the next weakness I'd short and my target 117 was good but market gave 106. No current position but will look for shorts above 130 again.
NASDAQ:NVDA
by priceactiontds
The Dot-AI BubbleSpeculative bubbles excite traders and investors alike. NVDA is the absolute winner of the AI craze. Craze is the sentiment of the market cycle peak. After craze and euphoria, fear and denial will inevitably flood our minds. It is nothing more than the never-ending cycle of the economy. A simple line drawn on a chart spells the ultimate demise for speculation. NVDA is making all-time-highs. Its performance/momentum however is showing alarming signs of weakness. Beware. Not all is as it seems. The very nature of a Bubble is that it defies all measurable mathematics. NVDA wants more. It wants everything. Just like any other corporation would. For capitalism, more equals more. NVDA aims to swallow the entire money supply. Improbable as it may seem, physics theoretically allows that. Divergence is one of the most misunderstood concepts in analysis. Divergence is not describing a future weakness. It describes the current weakness. NVDA is moving so fast, that its bear market is itself growing exponentially. If NVDA is now moving slower now than it was in 2015-2018, how fast is it trying to go? NVDA remembers the explosiveness of that period, and is trying everything to repeat it. Prices and investors have memory. Both however forget the well-known saying. Past performance does not guarantee future performance. This is the Achilles' heel of prices. They promise what they cannot deliver. Price will reach as high as possible, for as long as there is a willing buyer to take the bait. For capitalism, more is better, at all costs. The ultimate cost will certainly be paid. The last buyer will be the last NVDA bear who will give-in the mania. And that will mark the end. Tread lightly, for this is hallowed ground. -Father Grigori
NASDAQ:NVDA
by akikostas
20
NVDA is below the split lows and the daily 50 SMA.NASDAQ:NVDA confirmed the daily 50 SMA down today, following the NASDAQ:SMH last week. NASDAQ:NVDA also lost the split lows in similar fashion to NASDAQ:AVGO last week. The weakness in semiconductors contributed to the sell-off in technology names today, which provided an excellent opportunity for shorts. Watch for any gap ups in technology names to get sold off and confirm the previous day's lows, which will confirm the short for further trades to the downside, as we enter a seasonally weak time for technology.
NASDAQ:NVDAShort
by DMT_Doctor
2
NVIDIA's stock NVIDIA's stock has been skyrocketing, driven by the increasing demand for AI technology and high-performance computing solutions. However, recent market trends and technical analysis indicate that a substantial downturn could be on the horizon. The company's recent 10-for-1 stock split has made shares more affordable to retail investors, but it has also brought about increased volatility. The market has reacted favorably to the split, but the momentum may be decelerating. Investors should exercise caution and contemplate the possibility of a pullback. It is essential to keep a close eye on the stock for potential profit-taking, especially in light of the recent stock split and the overall market dynamics. ~S.T
NASDAQ:NVDA
by Trade-2000000
2