NVDA Stock - Can NVIDIA See $200 Into Earnings?

Summary

In this Nvidia daily update, the speaker provides an in-depth analysis of Nvidia's stock performance, highlighting its strong bullish trend. The focus is on key support levels, particularly the 179-180 range, which the stock has been consistently holding. The speaker discusses the potential for further gains if Nvidia surpasses resistance levels, with a target of reaching the low 190s or even $200 per share by earnings. The video also touches on options flow and the stock's long-term bullish outlook, emphasizing patience and monitoring for breakout opportunities.

Takeaways

• 😀 The video provides a daily update on Nvidia, discussing its recent performance and market outlook.
• 😀 The host emphasizes that the content is not financial advice but offers a YouTube membership where viewers can access technical analysis, updates, and chart requests for Nvidia and Tesla stocks.
• 😀 Nvidia closed the day up 6%, slightly underperforming the market, but continuing a bullish trend of taking resistance and turning it into support.
• 😀 The key support range for Nvidia is between $179 and $180, which has held strong for multiple days, signaling bullish sentiment if it continues to hold.
• 😀 The host highlights a potential 'gap-up' as a 'cheat code' in the stock market, where breaking key resistance often occurs through a gap-up or gap-down, and this could lead Nvidia to higher levels.
• 😀 If Nvidia breaks above the $183-$184 range and holds it, it could lead to a move towards the low $190s, potentially even nearing $200 per share into earnings.
• 😀 The base case for Nvidia’s future price is the low $190s, with the bull case being close to $200 if the current bullish trend continues.
• 😀 The MACD histogram and SMI are being monitored for potential warning signs, but so far there are no clear bearish indicators on the larger time frame.
• 😀 The host mentions that Nvidia has been an ‘unbeatable powerhouse’ in the market for a long time and sees no signs of that stopping unless a major shift occurs.
• 😀 The options flow is heavily dominated by bullish sentiment, although there is no overwhelming urgency or ‘alarmingly bullish’ flow, suggesting a steady rise rather than explosive growth.
• 😀 In conclusion, as long as Nvidia maintains above the $179-$180 range and possibly breaks $183-$184, the outlook remains bullish, with potential gains heading into earnings.

Q & A

What is the main topic of the video?

The main topic of the video is a daily update on Nvidia's stock performance, with a focus on recent price movements, key support levels, and potential future trends leading up to earnings.

What is the significance of the 179-180 support range mentioned in the video?

The 179-180 support range is a key level for Nvidia's stock. It has been consistently holding as support for several days, indicating that the bulls are in control as long as this level is maintained.

How does the speaker describe Nvidia's performance relative to the market?

Nvidia is slightly underperforming the market on the day, with a modest 6% increase. However, the speaker emphasizes that the stock continues to follow its long-term bullish trend.

What is the 'cheat code' the speaker refers to when discussing stock movement?

The 'cheat code' refers to the phenomenon where a stock gaps up or down above or below key resistance or support levels. This type of movement can often lead to a more significant and sustained price shift.

What is the speaker's bull case for Nvidia's stock price in the short term?

The bull case suggests that Nvidia could potentially reach close to $200 per share by the time of its earnings report, assuming the stock maintains its upward trend and key support levels hold.

What technical indicators does the speaker highlight when analyzing Nvidia's stock?

The speaker mentions the 9 exponential moving average (EMA) and the MACD histogram. The EMA is used to confirm support levels, while the MACD histogram is being monitored for any signs of bearish divergence or lower highs.

What does the speaker say about Nvidia's options flow?

The options flow is primarily bullish, with significant call flow compared to put flow. However, the speaker notes that the flow is relatively standard and not overwhelmingly bullish, which could explain why the stock is not surging dramatically.

What does the speaker mean by the 'lower high' on the MACD histogram being a potential concern?

A lower high on the MACD histogram would signal weakening momentum, which could be a warning sign of a potential reversal in the stock's uptrend. The speaker is closely watching for this to confirm any bearish signals.

Why does the speaker believe that Nvidia is still bullish at the moment?

Nvidia is still considered bullish because it is holding its key support levels, especially the 179-180 range, and there is no clear indication of a reversal in momentum yet. The stock continues to show resilience and strength.

What is the long-term view of Nvidia's stock according to the speaker?

The long-term view for Nvidia is positive, with the stock being described as a powerhouse. The speaker sees no reason to believe the stock's upward trend will stop anytime soon, although he acknowledges that at some point, this will change.