kibkibkib
11-23 14:29
$NVIDIA Corp(NVDA)$  Impending dip in BTC and Microstrategy will see a push for semiconductors and other growth sectors


As much as we are optimistic of BTC long term prospects, we are seeing signs of weakness from ROC and VOL. These show signs that the bullish push is gradually losing steam even when the price is going up. 

The volume required for the same ROC at this current resistance of 100k is lacking and not as robust as before. This shows that The whales are probably waiting on the sidelines while FOMO retail investors pile up 

We have witnessed 3 momentum events so far with the first FOMO event to be of the largest ROC and VOL. Unless we see a stabilization of price movement, we would expect a dip of at least 13.71% to approx. 85000 and the next support at another 14% down to approx. 80000. 

We wouldn't advise piling more into it until the price has stabilized. With the resistance at 100k, the push to break resistance is missing and if it did cross that resistance, we antipate major BTC holders that enters at 70000 to take profit, which is a total of 44% gain in this month alone.

With semiconductor stocks like NVDA selling off at the moment, these 2 events will coincide and will expect continuous revival in semiconductor stocks in the next 2 weeks as those who profited from BTC will look for discounted stocks to cash into, especially with the dip in Chinese stocks.

Modified in.11-23 21:07
Nvidia Rebound: Still a Long Term Bet?
Nvidia drop 2% despite exceeding expectations for the third quarter and providing strong guidance. Nvidia posted 81 cents in adjusted earnings per share and $35.08 billion in revenue. Analysts surveyed by LSEG were expecting 75 cents in earnings per share and $33.16 billion in revenue. ----------------- What's your target price for Nvidia? Head to $130 or $140 this week?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment