NVDA Stock - NVIDIA $165 Target Hit!! Whats Next?

Summary

In this Nvidia daily update, the creator discusses the recent performance of Nvidia's stock, highlighting that it hit the $165 target and reached a historic $4 trillion market cap. While the stock remains bullish, the presenter shifts to a neutral stance due to its current position at the top of a rising channel. He advises caution, looking for bearish signals, and suggests that risk vs reward is no longer favorable for short-term trading. Long-term investors, however, are encouraged to hold. The video also touches on Apple's recent stock movements as a comparison.

Takeaways

• 😀 The video is about a detailed analysis of Nvidia's stock performance, focusing on short-term price movements and risk/reward considerations.
• 😀 The host highlights that Nvidia recently hit a target price of 165, with a high of 164.5, marking a significant milestone as the first US company to reach a $4 trillion market cap.
• 😀 The host is currently in a neutral position on Nvidia stock, as the target price has been reached and the stock is at the upper end of its rising channel.
• 😀 The risk/reward ratio for trading Nvidia is no longer favorable at its current price, and the host is cautious about potential bearish signs.
• 😀 The host emphasizes that while Nvidia is bullish in the long term, short-term traders may face risks due to the stock being slightly extended from its exponential moving averages.
• 😀 The host is watching for potential bearish signals, such as a bearish engulfing pattern or inverted hammer candle, before turning bearish on the stock.
• 😀 If Nvidia's price were to break below certain support levels (160-158), it could lead to further downside, with 153, 148-149, and 145 being critical levels of support.
• 😀 While there's a possibility for Nvidia to continue higher, the host believes a breakout beyond the rising channel is unlikely, as this is considered rare in trading.
• 😀 The host shares a general support range for Nvidia, expecting 150-145 to be a strong support area based on previous resistance levels.
• 😀 The host mentions Apple as an alternative stock with favorable risk/reward, offering a freebie to viewers on Apple’s potential movement based on EMA analysis.

Q & A

What is the main focus of the video?

The video focuses on analyzing Nvidia's stock performance, providing insights into the current market conditions, and the creator’s personal outlook on Nvidia's potential for future growth or a potential downturn.

What was the target price for Nvidia stock mentioned in the video?

The target price for Nvidia stock mentioned in the video was approximately $165, and it hit around $164.50.

What is the creator's current position on Nvidia's stock?

The creator is in a neutral position regarding Nvidia's stock, not bearish but also not bullish due to the stock being near the upper end of its rising channel.

What factors make the creator cautious about Nvidia’s stock right now?

The creator is cautious because Nvidia is currently at the upper end of a rising channel and is slightly extended from the EMAs, leading to a risk/reward scenario where further upside seems less favorable.

Does the creator consider Nvidia to be a good long-term investment?

Yes, the creator acknowledges that Nvidia is a phenomenal company and likely to perform well in the long term, but the focus of the video is on short-term trading risks.

What kind of signals is the creator looking for to potentially turn bearish on Nvidia?

The creator is looking for bearish signals such as bearish candles (e.g., bearish engulfing, inverted hammer, evening star), or signs of a market top to consider shifting into a bearish position.

What does the creator expect Nvidia's support levels to be if it faces a decline?

The creator expects support levels around $160–158, $153, and possibly down to $148–145, depending on how quickly the price declines.

How does the creator feel about the potential for Nvidia to break out above its channel?

The creator believes it is extremely rare for a stock in a rising channel to break out above it and continue higher. While it could happen, the creator does not consider it a likely scenario to rely on.

What does the creator think about Apple’s stock in comparison to Nvidia?

The creator suggests that Apple might offer a better short-term risk/reward scenario compared to Nvidia, sharing an example of a recent analysis with members where Apple was near a support level.

How does the creator feel about the current options flow for Nvidia?

The creator mentions that the options flow for Nvidia is more bullish than bearish but not as overwhelmingly bullish as expected, considering the stock's recent movement.