After over 2 weeks of correction and pullback, AI and semiconductor theme related stocks began to rebound and rally again.
NVIDIA
Nvidia shares rallied back from last week's selloff as some of the chip giant's biggest clients are doubling down on artificial intelligence investments. Nvidia jumped 15% this week and posting its best weekly performance since last May. The surge comes after firms like Meta, Alphabet and Microsoft pledged billions in AI investments.
Nvidia daily chart
Looking at NVIDIA technically, the share price broke out from the downtrend resistance line last night. The downtrend pattern lasts for over 1 month and is represented by orange line in the chart above. The breakout like this usually signifies a trend reversal and I expect more rally in the share price $NVIDIA Corp(NVDA)$
AMD
AMD is set to report its first-quarter results on April 30 after the market closes. The company is expected to report earnings of 61 cents per share and quarterly revenue of $5.46 billion. Last week, AMD announced its new AMD Ryzen PRO 8040 Series with x86 processors and the AMD Ryzen PRO 8000 Series desktop processor, the first AI-enabled desktop processor for business users constructed with the advanced 4nm technology.
AMD daily chart
As compared to the leader Nvidia, AMD share price seems to be much weaker and still on a downtrend mode. A critical level that I will monitor will be on the blue coloured neckline resistance at 161.37 USD. I remain bearish $Advanced Micro Devices(AMD)$
PLTR
Palantir stock is in the news after the big data company announced a new contract with Parexel to enhance its healthcare AI work. This new agreement will see Parexel adopt Palantir's Foundry and AI Platform for use with its clinical data platform. This will allow customers to more easily manage clinical trial data and help increase the speed and effectiveness of setting studies up.
PLTR daily chart
For PLTR, a great sign to see the share price broke up from its recent downtrend resistance line. Another neckline resistance at 21.88 was overcame as well. Double breakouts! The rebound is pretty confirmed and we could expect more rally $Palantir Technologies Inc.(PLTR)$
C3.AI
Also known as an AI company, C3 has a totally different destiny as compared to other leading AI companies. The share price pulled back near to 50% and hit 2024 new low, despite the rally after its great earnings in early March. As for this moment, there's no any clear indication of the share movement. Those who are interested may wait for the share price to break above 23.59 USD major resistance, then only to revisit this stock. Otherwise, I will remain $C3.ai, Inc.(AI)$
C3 daily chart
SOXL
Last but not least, let'sook at the overall semiconductor index SOXL, mainly represented by semiconductor and AI related stocks.
SOXL
Great prediction last week, the share price has a strong technical rebound after touching EMA200 trend line support (as drawn in dark black circle). The rebound is very strong and hit a big gain over 5 days. Technical analysis is amazing, the share price plummeted after broke below the EMA50 3 weeks ago and found its support at the famous EMA 200 line, it was so so so accurate. For next week, I believe the momentum $Semiconductor Bull 3X Shares(SOXL)$
Hope you guys learn some basic things through my weekly technical charts sharing and let's grow together đ
@TigerStars @CaptainTiger @MillionaireTiger @Tiger_comments @TigerGPT
Comments
NVIDIA Corp (NVDA)
Business and Industry: NVIDIA is a leading technology company that specializes in designing graphics processing units (GPUs) for gaming, professional visualization, data centers, and automotive markets. The company is at the forefront of AI and machine learning technologies, providing solutions for various industries.
Latest Earnings: In the latest earnings report for Q4 2024, NVIDIA reported an EPS of $4.98, with a gross profit margin of 75.97%. The company has shown strong profitability and growth.
Earnings Forecast: Analysts forecast that NVIDIA's EPS will reach $34.82 in 2027FY, with a forecasted gross income of $159.94 billion and forecasting EBIT of $92.49 billion. The company is expected to continue its growth trajectory.
Capital Flow Analysis: The capital flow data for NVIDIA shows mixed trends over the past five days. On some days, there were inflows, while on others, there were outflows. This indicates that there is some uncertainty in investor sentiment.
Trend Analysis: The current stock price of NVIDIA is $877.35. The stock recently broke out from a downtrend resistance line, indicating a potential trend reversal. The support price is $785.07, and the resistance price is $871.07.
Valuation Analysis: Analysts have a mean target price of $1006.78 for NVIDIA, with a low estimate of $478.4 and a high estimate of $2762.12. The majority of analysts recommend buying or holding the stock.
Direxion Daily Semiconductors Bull 3x Shares (SOXL)
Business and Industry: SOXL is an exchange-traded fund (ETF) that seeks to provide daily investment results, before fees and expenses, of 300% of the performance of the PHLX Semiconductor Sector Index. It represents the semiconductor industry.
Capital Flow Analysis: The capital flow data for SOXL shows mixed trends over the past five days, similar to NVIDIA. This indicates some uncertainty in investor sentiment.
Trend Analysis: The current stock price of SOXL is $39.8. The stock recently rebounded strongly after touching the EMA200 trend line support. The support price is $31.21, and the resistance price is $37.41.
Advanced Micro Devices (AMD)
Business and Industry: AMD is a semiconductor company that designs and develops computer processors and related technologies. The company's products are used in various applications, including gaming, data centers, and personal computers.
Latest Earnings: In the latest earnings report for Q4 2023, AMD reported an EPS of $0.41, with a gross profit margin of 50.29%. The company has shown steady growth and profitability.
Earnings Forecast: Analysts forecast that AMD's EPS will reach $5.54 in 2025FY, with a forecasted gross income of $32.68 billion and forecasting EBIT of $9.96 billion. The company is expected to continue its growth trajectory.
Capital Flow Analysis: The capital flow data for AMD shows mixed trends over the past five days, similar to NVIDIA and SOXL. This indicates some uncertainty in investor sentiment.
Trend Analysis: The current stock price of AMD is $157.4. The stock is currently trading near the support price of $152.39. The resistance price is $177.69.
Valuation Analysis: Analysts have a mean target price of $192.20 for AMD, with a low estimate of $60.0 and a high estimate of $270.0. The majority of analysts recommend buying or holding the stock.
Summary:
NVIDIA has shown strong earnings and is expected to continue its growth trajectory. The stock recently broke out from a downtrend resistance line, indicating a potential trend reversal.
SOXL, representing the semiconductor industry, has rebounded strongly after touching the EMA200 trend line support. The stock is expected to continue its momentum.
AMD has shown steady growth and profitability. The stock is currently trading near the support price and has a positive earnings forecast.
Please note that the above analysis is based on historical data and trends, and it does not constitute investment advice. The stock market is subject to inherent risks, and stock prices can fluctuate. It is important to conduct thorough research and analysis before making investment decisions.