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Strategies & Market Trends : The Art of Investing
PICK 44.56-2.8%4:00 PM EST
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To: Sun Tzu who wrote (8507)8/28/2024 6:37:18 PM
From: Sun Tzu  Read Replies (1) of 10510
 
NVDA and SMCi

The only change from my previous post is that for the first time NVDA fell after reporting (and greatly beating) their numbers. So perhaps it has peaked.

As to SMCI, it is now down 40%+ since I wrote about it.

If I were to venture a guess, somewhere around 106 +/-1 will be NVDA's first support level.

The chart below shows my expected support/bounce points.
NOTE: This is an hourly chart. So these are short term trading points, not investment levels.


Message #8507 from Sun Tzu at 4/19/2024 7:29:46 PM

...
Nothing has changed my mind since we last spoke. NVDA is still a great company and I am pretty certain they will beat their numbers again this quarter. And I also still think that they will see their multi-year high within 18 months, if it has not already peaked.

...

As to SMCI, it has the dubious honor of being the worst performer in my watchlist. The market sees to agree with me on it being far riskier than NVDA. Nonetheless I never touched it b/c as I said, it is not my kind of stock to be long or short. Though in hindsight, I should have bought some 0DTE puts. But SMCI just wasn't on my mind.

Again, if you are holding NVDA, chances are good that you will be able to recover all or most of your losses this quarter.

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