NVDA has risen above the trading range but has started to print weaker Bearish candlestick patterns on the Daily as it approached the PCZ of a potential Bearish ABCD pattern. At this point in time it seems like NVDA will fall short of $600 then come back down to its last official support level which was at $272.42, if 272.42 doesn't hold then it could go into the one hundreds or even below $100 to around $80 but $272.42 is the main target.
I can see pull back in the future but a crash like you are implying is highly unlikely. Meta just purchased 350,000 GPU’s from them, they can’t make chips quick enough, pharmaceutical companies are teaming up with NVIDIA to have AI medicine/vaccine research, mini AI chips are being placed in laptops to have new interactive interphase, massive data centers are being created through out the world (India, Singapore, Germany etc), and they are going to sell chips to China that meet regulation in the 2nd half of the year. I have seen people lose their shirts trying to short this company. I would not place puts.
CreativeDavid
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I would never short NVDA when it is selling the hottest product right now. I would just watch and see instead of shorting
thuyvu33
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@DEJU87, I have no idea how this thing is getting propped up to these valuations. Its really insanity but whatever.
RizeSenpai
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@thuyvu33, Likely due to rate cut expectations, mixed with the correlation NVDA has with crypto bull cycles, and AI optimism. But we see these breasking down in other stocks such as Intel and NXPI, as well as TSLA. Pair this with falling yields and you've got a perfect environment for exessive upside in the stock. However if these macroconditions were to turn, specifically if the yields were to start going back up again we would likely see NVDA coming back down but that's not the setup right now, Yields over the last several days have set themselves to fall for the upcoming week and may actually give room for the SPX to rise to 5000 or 5100 or maybe just below 5000, we will have to see but for the time being it seems none of that matters for INTC or TSLA as they have reversed from their bearish levels.
MyCryptoParadise_Nathan
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Your analysis on NVDA provides a detailed observation of the recent price action and potential future movements.
DFUZZY1
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i totally could see this happening. ive been eye balling 300 puts for 2025 haha
Alphamoney870
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lol this will end well......but maybe.
pvjohnsanders
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Hmmm. Definatley a contrarian opinion, but possible.