Cautious optimism to give way to December decline for NVDA

3 de dez. de 2024

The sentiment around NVIDIA (NVDA) over the past 72 hours has been mixed but leans slightly positive. Here's what we see:

Analyst Views: Analysts remain bullish, with a strong "buy" consensus and an average price target suggesting a potential 21% upside from current levels. This reflects optimism about NVIDIA’s prospects, particularly with its leadership in AI and data center technology.

Seasonal Trends: Historically, December has been a weaker month for NVIDIA’s stock performance, with shares declining in 60% of Decembers over the past decade. However, this is typically followed by strong recoveries in the new year.

Investor Discussions: Investors 'round the Web are expressing cautious optimism. Some highlight concerns about high valuation and broader market headwinds, while others emphasize NVIDIA's long-term growth drivers like AI and semiconductor demand.

The overall mood suggests near-term caution due to seasonal and valuation factors but confidence in NVIDIA's long-term trajectory.

With all this said, we see cautious optimism leading to a rise to a key resistance level in the 144.00 price range, followed by a decline in December, fueled alongside the SPY's potential crumbling.

10 de dez. de 2024

Nota

Since our post that cautious optimism did indeed give way to a slight rise to the $144.00-145.00 before dropping as predicted. NVDA closed at $138.80 Dec 09, going as low as $137.20.

We think it will reach the $132.50 area by end of December.

Be Alert.
Trade Green.

13 de dez. de 2024

Trade fechado: objetivo atingido

DECEMBER 12 UPDATE

On Dec 10, NVDA dropped to a low of 133.79, missing our target by just a little over $1 !!

A few things to consider:
1. A spinning top printed on the 8h/1D today (indecision).
2. SMAs are still green (positive trend).
3. RSI suggests a potential (short-term) rebound, BUT the breach of key support ($135 ish) and trading below the 50-day moving average indicate possible continued downward pressure.

We see further declines in December down to $132 area, although we are marking this now as initial target reached.

Be Alert.
Trade Green.