Nvidia on Friday, Reversal or Kopi Break?
Well, folks, hold on to your kopi peng because $NVIDIA Corp(NVDA)$
So, apparently, Nvidia's revenue shot up 265% faster than a kaya toast disappearing at breakfast. AI adoption and chip demand are hotter than satay sticks on a hawker grill, and Mr Jensen Huang himself says AI has hit the tipping point. So far, so good, right? The storyline is still intact. But what went down on Friday? Let's check out the options market and see if it spills the tea, or in our case, the teh tarik.
Look at the lines I here lah! Massive call options hanging out at 1000, 950, and 900 like durians at a fruit stand. Breaking through these lines is like trying to squeeze into your jeans after a hearty plate of nasi lemak – not easy. And if it does happen, brace yourselves for profit-takers and pressure. On the flip side, there are hefty put options at 800 and 750, providing support like a good friend during a karaoke session. Expect the market to dance within these ranges for the near term, like trying to follow the steps of your cousin's elaborate wedding dance.
Now, if we gaze at the charts, we've seen not one, not two, but three significant gap-ups. It's like the stock prices have been playing hopscotch and forgot to take a break. But with stocks climbing higher than HDB prices in 2022, a drop like this was inevitable. In fact, it's more unusual to find a stock that goes up and up without pausing for a teh break.
The stock price is currently chilling around the 850 range, not breaking through the options market support of those massive puts at 800. So, my friends, I'd say Friday's drop is nothing more than Nvidia taking a kopi break, letting the market catch its breath. But, of course, like waiting for your chicken rice order during the lunch rush, we'll keep our eyes peeled the next few days to see if the stock's trajectory stays within the expected current course.
Now, what's your take on this Nvidia rollercoaster? Share, like, and comment lah! Maybe throw in a meme or two – let's spice up this stock market discussion like a bowl of laksa!
Voting poll(Single choice)Modify on 2024-03-11 20:41
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