Nvidia in profit taking zone#Nvidia is one step away from an important correction! Step #1 Price stretched far above its 36 month moving average (confirmed) Step #2 Price and momentum fails to stay above rising trend lines (not confirmed) #nvda #bitcoin #nasdaqby BadchartsPublished 110
Ichimoku Watch: Nvidia Eyeing Ichimoku Cloud Support In three successive days of selling, triggered after a bearish outside reversal formed on Thursday last week from all-time highs of $140.76, Nvidia (ticker: NVDA) has shed approximately -15.0% from the peak. The company’s market value dropped more than US$500 billion to US$2.91 trillion, consequently pulling the chipmaker back to third place after briefly becoming the most valuable company in the world and surpassing Microsoft (ticker: MSFT) and Apple (ticker: AAPL). Behind the sell-off is a combination of the CEO, Jensen Huang, selling almost US$100 million worth of shares a handful of days before (and after) it became the world’s most valuable company, along with worries about the company’s effect on the broader stock market indexes, and profit-taking after what has been a meteoric rise. Ichimoku Cloud Support As can be seen from Nvidia's daily chart, the stock’s recent movement has easily crossed below the Conversion Line (blue at $129.40) and is fast approaching the Base Line (red at $116.28), which could deliver support. However, should further downside develop, the Ichimoku Cloud support (made up of the Leading Span A at $122.95 and the Leading Span B at $108.23) could be seen as a logical downside target for sellers in this market at the moment. You will also see that the chart offers support at $96.77 around the Ichimoku support zone. Price Direction? While it is unlikely that the party is over for Nvidia, the current correction will likely be viewed as an opportunity to get in at cheaper prices. Dip buyers, therefore, may seek suitable support levels to enter this market long. The combination of support just below $100.00 at $96.77 and the Ichimoku Cloud support area could be worthy of the watchlist. Editors' picksLongby FPMarketsPublished 99499
NVIDIA and TESLA peaks comparisonNVIDIA price movement between 3/8/2024 and 6/20/2024 corresponds to TESLA's between 1/25/2021 and 11/4/2021. Let's see what will be next. Shortby nicktrdPublished 3
BEAR THESIS It is visible that every leg up there is consolidation before the big 2nd move upwards, where is that resistance? it is found that in both 3 legs( including the one not known if ended), is at 0.317 Fib , meaning that the top has to be 132.84. Now to find true top we need to have unsustainable increase. Break of upper trendline and now come back to find support on it can give unsustainable increase (left shoulder with low volume). Sell when break of lower low and trendline. We can check this on trendline support or breakthrough Shortby erotokritosrotsasPublished 1
Nvidia LongWaiting for a confirmed continuation long on Nvidia. Correction is unlikely to be sustained without clear fundamental drivers especially with FED rate cuts around the corner. Looking towards key fib levels aligning with support. Either 38.2% at support level or 61.8% at $100 round number. Wait for clear break of structure to upside in the way of either counter trendline or break of confirmed lower high. Stoploss behind low of move and target ATH Alternatively, buy call options with $118 strike price and a 31 day expiration. Longby ElGore18Published 2
NVIDIA Macro Elliot WaveNvidia has formed a macro elliot wave pattern, Bitcoins chart fractal overlay displays similar macro peaks and valleys. Longby CBKWahooUpdated 555
$NVDA - Can it form a right shoulder?NASDAQ:NVDA there is a chance that it could bounce to $123 - $125 area and form a right shoulder. 👀by PaperBozzPublished 119
$NVDA Nvidia Algorithm Sell AlertWe are in an obvious downtrend. Our algorithm gave a sell alert on June 20, last Thursday. Our strategy is to wait for a buy alert to go long; we do not short growth stocks like Nvidia.by AlgoTradeAlertPublished 115
Chart Pattern Analysis Of NVDA K1 and K2 are two consolidation candles, K3 break up and verified the long-term uptrend. The supply pressure sharply decreased at K3, It seems that the following candles will keep pricing up to test the upper limit of the uptrend channel. It is also possible that the following candle fall back to test the lower price of K2, If that finally happens, it will be a good place to increase long-term positions. K1 to K3 is a bullish three soldiers advancing pattern, If K4 price up to test the upper limit of the uptrend channel, It is also possible that a consolidation will happen there, it will be another good place to increase long-term positions. Long-131.88/Stop-127.4/Target-149Longby nothingchangehereUpdated 11
NVDA Elliot Possibility There's a lot of speculation NVDA is overextended and, well I can see their point. But maybe through the last years we have had waves 1 and 2 of Elliot. Which would mean we're in wave 3 and in wave 3 "Overextended" does not really exist. A super consistent trend is what is the norm. Wave 3's are incredibly easy trends to follow but a lot of the time in wave 3 people spend more time trying to call the top than follow the trend. If we're in the Elliot waves, NVDA has a lot more pain to bring to those who want to bet against it. Longby holeyprofitUpdated 6621
NVDA, is this run over yet?If we have learned anything from the EV stocks and NASDAQ:TSLA , then it would be nothing can run forever!Shortby Crypto_ColIectorPublished 110
NVDA Trade IdeasNVDA has dropped fairly quickly from the ATH over $140. NQ and semis got hit pretty hard today and late last week. I thought NVDA might bounce a few times today, but sellers were persistent all day. It's finally back to an area which I would consider critical. We have some major horizontal support here and a potential down trend breakout. Will be interest to watch and potentially quite lucrative.by AdvancedPlaysPublished 2
NVDA longer TErm AnalysisGoing Over NVDA's price action last few weeks looking for clues and how to trade going forward. Always know where you'll get out if you're wrong. we are Risk Managers first and foremost. Take shots and then manage Risk. Management of Trades is what creates the Savages of the markets. 06:03by BobbyS813Published 0
NVDA - NVIDIA LONG IDEADear traders, Id like to share this idea in order to take long positions 100- 120$ is is a good price range to look for buying opportunities. It clearly needs a correction take advantage of it. best,Longby FITINTRADEPublished 4
$NVDA might fall +10% after stock splitMy prediction is that the stock will fall after the stock split, similar to what happened with NASDAQ:TSLA , which retreated 30% under similar circumstances. However, this dip only lasted a week or so, indicating this is a quick scalp opportunity. It might be a good idea to wait for NASDAQ:NVDA to surpass NASDAQ:MSFT before making a scalp trade.Shortby BlasikUpdated 121219
Nvidia Subdivides Lower from Recently ATHPrice is now in the target box for our circle a wave and I am watching for the potential of a reversal higher in our circle b wave. To continue to leak lower could bolster the case for ALT purple wave 4 as price appears somewhat short term oversold. My primary is a circle b wave corrective retrace. Because of the sheer bullish of the long term chart, only a move below $104-$106 would signal a major top may have been struck. by maikischPublished 13
Nvda idea Looking to add some calls right here at gap fill . Or near it . RSI on the 2 hr is getting oversold . This could be a bounce but I think overall Nvda has turned bearish for the weeks to come by TodopoderosoPublished 3
NVDA updateNVDA pivoted right where I had predicted fortunately for me, and QQQ is dropping in tandem. We are just starting to see the demand zone get hit, I would love to see a drop over the next week or two so I can add LEAP calls for future covered-call setups. A more bearish target is the red dashed lined around 94-95$.Shortby Apollo_21milPublished 4
Nvidia Major Bearish SignalWe have a major bearish signal after a new all-time high for the Nvidia Corporation (NVDA) stock. We now know that NVDA is strongly related to Bitcoin and the Cryptocurrency market thanks to the graphic cards and chips they develop. Any out of the ordinary action here can be used as a signal to either support or negate action in these related markets. We see Bitcoin with bearish potential based on the fact that growth stalled completely and we have more than three months of sideways action accompanied by lower highs (bearish). Now we have this development on the Nvidia stock, which supports a strong bearish move next week —a massive sell-off. ➖ NVDA produced a major bearish session, 20th of June. (It hit a new ATH just to close full-red.) ➖ The next day we have a falling window with very strong bearish volume. (These are powerful bearish signals). ➖ Junk-base also looks pretty bad with multiple days closing red. As always, things can change on Monday but the chart is the chart, and the chart is saying, "Warning, major crash ahead!" It wouldn't be surprising to see a drop here; prepare accordingly. These bearish signal can become invalid if this stock moves up and close above 131 daily/weekly. If trading remains below this level, there is high probability of a major down-move. Namaste.Shortby AlanSantanaUpdated 3352
Why Nvidia’s Monster $3T Valuation Poses a Threat to S&P 500Too fast Nvidia climbed the ladder of success and now the broad-based S&P 500 is at risk of getting sucked into a crisis if the chip giant were to trigger it. Nvidia Value Takes Up 7% of S&P 500 Is Nvidia (ticker: NVDA ), the massive chip company, too big to fail? Shares of the juggernaut in the AI space have soared more than 160% this year and they show no signs of slowing down. That’s all great news for traders who enjoy the daily volatility and love watching billions of dollars slosh around as markets try to figure out Nvidia’s worth. What markets have agreed on so far is that Nvidia is worth more than $3.2 trillion. The lofty price tag, however, comes with certain dangers. One such danger is that Nvidia makes up about 7% of the S&P 500. The broad-based Wall Street darling, packaged with 500 public companies , is valued at $46 trillion. The danger isn’t too obvious now for obvious reasons. Nvidia is yet to give back (if it ever does, right?) some of its formidable gains. But there are signs already. Last Friday, this ratio of 93:7 tipped the S&P 500 into a loss just because the hulking size of Nvidia was too much weight on the stock index. And because the markets aren’t allowing any breathing room and shares are always on fire, we can’t know the impact a crash in Nvidia could have on the S&P 500. But since the pendulum swings both ways, it pays to be prepared. The Big Three’s Massive Weight The tech-focused concentration of the S&P 500 doesn’t end with Nvidia. The two other companies that are also worth over $3 trillion each have the same weight on the equity benchmark. Add Apple (ticker: AAPL ) and Microsoft (ticker: MSFT ) next to the AI chip maker and you’ve got a nice 21% chunk of the S&P 500 concentrated in three companies. In other words, that’s more than $10 trillion of valuation in total and it dominates the large-cap rankings . What’s the common ground between all three? AI, more or less, with Apple playing catch up pretty fast. “Why not pick on Apple then, if it’s the same market value?” Apple brings home more than $380 billion in revenue a year while Nvidia can only do $60 billion . Moreover, the iPhone maker has 2.5 times Nvidia’s trailing 12-month free cash flow. Doomsday Scenario A possible doomsday scenario in the artificial intelligence corner, every permabear will tell you, can trigger a rude awakening for investors and strip those giants off their record high valuations. They actually had a moment of victory, although a brief one. In April, Nvidia endured its biggest drop since its recognition as the purest AI play out there. Shares erased more than 10% in the span of a few days. But before permabears had a chance to sip at their mezcal espresso martini and call it a day, Nvidia had bolted past the losses and into fresh record territory. These days, it’s largely the same few stocks pumping and driving the gains across the indexes. That doesn’t sound like much of a diversification — the narrative pushed by passive investors who choose to shove some money into an index and do nothing. If the S&P 500 served as a diversification vehicle in the past, it certainly doesn’t look like it today. Your Thoughts? Will we see the AI bubble burst like the dot-com bubble of the 2000s? Or will Nvidia continue lifting the sea of stocks? Leave your thoughts below. by TradingViewPublished 3391
Froth coming off NVIDIAIt’s been a relatively quiet start to the week with US stock indices little-changed in early trade. There was a slight positive bias across most of the majors, although the tech-heavy NASDAQ was showing signs of weakness. Market darling NVIDIA was down again, with further evidence of additional profit-taking. Last Thursday the chip maker at the vanguard of generative AI shot up to hit a fresh record high above $140. But it subsequently reversed direction to close down on the day. It fell on Friday as well, and is weaker again this morning. At the time of writing it has lost over 12% from Thursday’s high. Some profit-taking seems entirely reasonable given NVIDIA’s meteoric rise. The stock was up over 180% this year alone. But if it continues to lose ground, then there’s a danger of contagion, with selling spreading to other big tech names. If that were the case, then the market could be in for a deeper and more protracted pull-back. Yet there are few indications that investors are even thinking along these lines. Bond prices are up, with the yield on the US 10-year Treasury Note around 4.25%, having pulled back from 4.62% last month. Meanwhile, stock market volatility, as measured by the VIX, remains near multi-year lows, even after rising around 10% from this time last month. This all suggests that investors are remarkably relaxed, as the S&P 500 and NASDAQ continue to make a succession of fresh record highs. Yet this could also indicate a high level of complacency, which runs the danger of taking everyone by surprise should a modest round of profit-taking develop into something more significant. This week is fairly light on data, so investors will focus on Friday’s Core PCE release, the Fed’s preferred inflation measure. There are also several Fed speakers who could influence short-term market direction. by TradeNationPublished 5
Nvidia Nvidia is currently in what’s undoubtedly a bubble-like parabolic rise, while already printing a weekly bearish divergence. by teknodimension23Published 1
BEAR thesis updateI may have stumbled on something huge, based on these charts, I see CRYPTOCAP:BTC pullback, AMEX:SPY pullback with some certainty on support. BUT I am certain on NASDAQ:NVDA peaking, and believe me me myself need to sell.Shortby erotokritosrotsasPublished 555