NVDA Stock - Big Test For NVDA Here

Summary

In this Nvidia daily update, the speaker discusses the current state of Nvidia stock, analyzing its recent performance and potential future movements. He highlights key technical levels, such as the Fibonacci retracement, and how upcoming AMD earnings may influence Nvidia’s price action. With a focus on short-term patterns, such as higher highs and lower lows, the speaker assesses the likelihood of a 'dead cat bounce' and the potential for further gains or losses. The update also touches on market sentiment, office flow, and the speaker’s personal AMD position, creating a tense and intriguing outlook for Nvidia’s next steps.

Takeaways

• 😀 Nvidia's stock closed at $180 per share, up 3.6% on the day, following a bullish market trend.
• 😀 The presenter highlights that Nvidia could see a bounce, but the outcome depends on upcoming earnings reports, particularly from AMD.
• 😀 AMD's earnings report after the bell could significantly impact Nvidia's stock, with Nvidia often following AMD's movements.
• 😀 There's uncertainty in Nvidia's short-term movement, with potential for a 'dead cat bounce' if it hits key Fibonacci levels around $181.
• 😀 The presenter suggests Nvidia could drop to the mid-160s if bears take control after AMD's earnings report.
• 😀 The Fibonacci retracement levels are key in determining Nvidia's potential support and resistance, with $178.5 and $181 being important levels.
• 😀 If Nvidia breaks past $181 and continues upward, it could signal that the bears have failed and further upward movement may occur.
• 😀 The presenter uses past price action and the Fibonacci tool to predict that Nvidia may face resistance near the $181 mark.
• 😀 There is a possibility of a fresh low for Nvidia if bears succeed in pushing the price down after AMD’s earnings, with a target around the mid-160s.
• 😀 The presenter is not currently holding any position in Nvidia but is monitoring the stock closely, awaiting key market reactions post-AMD earnings.

Q & A

What is the main focus of today's Nvidia daily update?

The main focus is an analysis of Nvidia's stock performance, potential market movements, and the impact of AMD's earnings report on Nvidia's price.

Why is AMD's earnings report significant for Nvidia?

AMD's earnings report is significant because Nvidia often follows AMD's market sentiment. If AMD reports strong earnings, Nvidia is likely to rise, and if AMD performs poorly, Nvidia might follow the downtrend.

What is the current stock price of Nvidia, and how did it perform today?

Nvidia closed at $180 per share today, up 3.6%, showing a positive performance in the market.

What did the speaker mean by 'dead cat bounce' in relation to Nvidia's stock?

A 'dead cat bounce' refers to a brief, temporary recovery in a stock's price after a significant decline, which may eventually lead to further downward movement. The speaker speculates that Nvidia might experience such a bounce before potentially falling again.

How does the Fibonacci level play a role in Nvidia's stock analysis?

Fibonacci levels are used to predict potential support and resistance points. The speaker highlights the green Fibonacci level as an important point for Nvidia, suggesting that if the stock hits this level and faces resistance, it could signal a reversal.

What technical patterns has Nvidia been following recently?

Nvidia has been following a pattern of higher highs and higher lows, indicating a bullish trend. However, recently, there was a break in this pattern with a lower low, which raises concerns about potential further declines.

What levels should investors watch for in the near future regarding Nvidia’s stock?

Investors should watch for the $178.5 to $181 range. If Nvidia hits these levels and faces resistance, it could signal a potential pullback. A break above $181 could suggest continued upward movement.

What role does the MACD indicator play in the analysis?

The MACD (Moving Average Convergence Divergence) is used to track momentum and trends. The speaker points out that Nvidia printed a higher low in the MACD today, which suggests that the stock might experience another upward movement, similar to a past pattern.

What are the potential outcomes for Nvidia’s stock depending on AMD’s earnings?

If AMD reports strong earnings, Nvidia could follow with a rise, potentially testing the $181 level. However, if AMD has a negative earnings report, Nvidia might dip, potentially reaching the mid-160s as it revisits the bottom of its rising channel.

Why does the speaker believe Nvidia is in a 'peculiar position' right now?

Nvidia is in a peculiar position because of the uncertainty surrounding AMD's earnings report, which could either boost or negatively affect Nvidia's stock price. The speaker is closely watching the $181 level as a key indicator for the next major move.