Can $NVIDIA Corp(NVDA)$
Looking at the charts we see a bullish trend with the stock price moving far above the moving averages shows a bullish trend. After price hitting above 950 last friday, Nvidia retreated 5.5% and we've been bouncing below that ever since.
Looking at options market we know that there's massive calls on 950 and 1000 which has caused the retreat last friday as people took profits. There's also support at the 800 and 750 levels as many put options are set at that level providing support.
I'd say its unlikely to break past $1000 within this week as there's not much catalyst this week for Nvidia to break past the $1000 meaningfully. Perhaps next week's GTC would provide some bullish news needed but as of now till friday, we might see profit takers once again if we are to move past 950.
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Modify on 2024-03-14 17:29
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- zion1·03-15This is definitely manipulation to tempt small investors and be caught in their way. Let's be rational and look into the fundamentals before jumping in and is suicide. I say it will rise little 860 and fall drastically.LikeReport