Disclaimer: Whatever I say or post doesn't act as financial advice, so please do your own due diligence before making any decision.
NVDA, the "darling" stock of 2024. It dipped despite earnings beat. I think maybe because the beat is not good enough than market sentiment. Another point is the sharks (Fund houses) think NVDA is at a infection point, so they are massively dumping stocks.
So according to my TA, NVDA havent even drop to its previous support lvl of $131, so I wont even entertain the idea of entering a position till the stock reach its support level.
However, if you are already holding stock of NVDA, and have a time horizon of at lest 5 years, do not panic sell. Hold it as NVDA will surely recover from this temporary sell off.
There is a lot of noise surrounding the tech sector, however if you look historically, XLK (tech etf) has been hitting new highs. And with Trump at helm, I foresee a gradual fed rate cut, which leads to lower borrowing rate for businesses. Hes all out for the theory of Rich get Richer, Poor gets poorer. So you can complain and wine all you want, but its either u jump on the boat or not.
#BeGreedywhenpplareFearful
#BeFearfulwhenpplareGreedy
@madluvyz - Specialist in using TA to sell options and swing trade.
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Thanks for the awesome insights on Nvidia’s technical analysis and support levels! 💡📊 Keep the great content coming! 🚀