Short Term: Neutral to slightly bearish. NVDA recently broke below the floor of a rising trend channel, indicating a potential slowdown in price increase.
Long Term: Positive. NVDA has outperformed most stocks year-to-date and over the past year.
🎁What the Tigers Say | NVDA: Filling the Gap or Reaching Bottom?
@TigerClub：
During Wednesday's trading session, NVDA surged 1.97% to close at $870.39, defying the trend of declining stocks. However, NVIDIA's stock price has declined by over 10% from its recent peak, indicating a correction phase. Is $NVIDIA Corp(NVDA)$ getting out of the woods? Or will continue to dip? Below are some insights from Tigers @Barcode, @Strategy 1 and @melson. Which opinions do you agree with？ 🎁Special Notes: Whoever showed up on the” What the Tigers Say” column will receive 100 Tiger Coins and an exclusive interview invitation to honor your contribution. Click titles to read the full analysis: 1. @Barcode: With the stock rising from a key support level, a new entry is at hand Key Points: There are two options for those holding the stock: Wait while the stock forms a base and add more at a proper buy point, or trim the holdings if the stock breaks a key support level such as the 50-day moving average. Nvidia (NVDA) appears to be forming a base and the next possible entry could be 967.66 or 974. A clear base with a proper breakout makes Nvidia a buy. Meanwhile, Nvidia's chart shows that its relative strength line, which compares stock performance to the S&P 500, is falling. NVDA is a Zacks Rank #1 (Strong Buy) 2. @Strategy 1: Are You a Short-Term Trader or Long-Term Holder of Nvidia? Key Points: I don't think Nvidia will drop below 800, yesterday dip was partially Caused by hotter than expected cpi data and almost every stock dipped but it recovered partially during trading hours. Intel in my view is in a similar situation compared to amd being late and trying to break into the market. Both will have their place but it will be important if they compete mainly on performance or cost. Both will undercut pricing as much as they can to gain market share with likely faster availability due to shorter order backlog and can be attractive for smaller companies in comparison to hyperscalers Nvidia will still be the performance leader plus their strong software support will always sway buyers to go with them. For hyperscalers building large AI data centers the cost of high performance chips from Nvidia may be offset by needing less of them for same workloads. For those who want maximums computing power for the next step in AI which is building a real "world aware" AGI again it may be the preferred choice. Nvidia will face increasing price pressure from intel and amd (or other custom chip offerings) which will impact margins but overall the projected growth for AI is large hence increase in earnings will help offset this. I would not be surprised if Nvidia responds with cut down versions at cheaper price points in the future to combat $Intel(INTC)$ and $Advanced Micro Devices(AMD)$. 3. @melson: Are You a Short-Term Trader or Long-Term Holder of Nvidia? Key Points: NVDA scored a big rebound last night although us cpi is hotter than expected. according to its pnf it is still on an uptrend. $VanEck Semiconductor ETF(SMH)$ tracks the chip makers as well as the semiconductor industry. its pnf is also on an uptrend. however if you observe their candlestick charts, they appear to be u turning downwards. nvda looks likely to clear gap at 700 before normalizing and then rebound. looking at its pnf chart, that would be around 2.618 level of the Fibonacci retracement. Questions for you: Is Nvidia getting out of the woods? Or will continue to dip? 🎁Prizes 🐯 All valid comments on the following post will receive 5 Tiger Coins. We strongly recommend selecting the "Also repost" button when posting a comment to receive more rewards. ⏰Duration 17 Apr (24pm EDT)
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.
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