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NVIDIA's Bullish Channel Holds Strong: September 2024 ProgressNVIDIA Stock Analysis and Future Outlook: September 2024 Update Overview: NVIDIA (NVDA) continues to exhibit a robust upward trend, consistently trading within a rising channel. The stock's performance is supported by both strong technical signals and fundamental factors. NVIDIA has established itself as the leader in the AI hardware space, benefitting from surging demand for its GPUs across various industries such as data centers, gaming, and automotive. With a recent rally fueled by the conclusion of CEO Jensen Huang's planned stock sales, the outlook for NVDA remains bullish, although some short-term consolidation could be expected. Price Predictions: 1. Short-Term (Next 1-3 Months): - Given NVIDIA’s recent performance and the slight bearish crossover in the MACD, short-term consolidation is likely. The stock could pull back to test lower support levels near $120 or even $115, which are close to the moving averages and the lower boundary of the upward channel. This presents an opportunity for investors to enter positions at a potential discount. - However, any positive news related to AI advancements or product launches could trigger another leg higher, pushing the stock back above the $130 mark in the short term. A retest of the upper channel resistance near $135-$140 is also possible, depending on market sentiment. 2. Mid-Term (3-6 Months): - Over the next six months, NVIDIA's growth trajectory looks solid, bolstered by strong demand for its AI and gaming chips. Analysts expect the stock to retest its previous highs around $150-$160, particularly as NVIDIA continues to expand its market share in AI and gaming sectors. - Continued strength in its Data Center division, along with strategic partnerships in cloud computing and AI, could see the stock pushing towards $170-$180, assuming no major external shocks or macroeconomic downturns. 3. Long-Term (12-24 Months): - The long-term outlook for NVIDIA remains highly favorable. AI is expected to dominate various industries over the coming years, and NVIDIA is perfectly positioned to capitalize on this trend. Analysts have set price targets ranging from $200 to $250 over the next 18-24 months, contingent on the continued growth of its AI and Data Center businesses. - Longer-term projections could see the stock moving well beyond $250 if NVIDIA’s innovations, particularly in autonomous driving, cloud computing, and AI-powered enterprise solutions, continue to thrive. The recent advancements in sovereign AI and Blackwell chip production further reinforce this bullish outlook. Investment Strategies: 1. Short-Term Strategy: - Buy on Dips: Given the stock's long-term bullish trend but potential short-term consolidation, short-term traders might look for opportunities to buy on dips around $115-$120. This range aligns with technical support levels and offers a solid risk-reward ratio. - Watch Key Resistance Levels: If NVIDIA breaches $130 in the short term, momentum traders could look for further gains up to $135 or $140. However, caution is advised if the stock moves out of the channel or technical indicators suggest overbought conditions again. 2. Mid-Term Strategy: - Hold for AI Growth: Investors with a 6-12 month horizon might consider holding onto their positions, as NVIDIA is expected to benefit significantly from growth in AI, gaming, and cloud computing. NVIDIA's revenue from AI-related applications is forecasted to grow rapidly, which should support stock price appreciation over time. - Leverage AI Boom: Traders could focus on news surrounding NVIDIA’s AI applications, as new product announcements or partnerships in AI or autonomous driving could drive further upward price movements. 3. Long-Term Strategy: - Accumulate for Long-Term Growth: Long-term investors should consider accumulating shares, particularly during pullbacks, with the expectation of significant growth over the next two years. NVIDIA's fundamentals remain strong, and its dominance in AI hardware positions it for continued outperformance in the tech sector. - Diversify Risk: While the long-term outlook is positive, it's important to remain diversified. External risks like geopolitical tensions, regulatory changes, or economic slowdowns could affect NVIDIA’s growth trajectory. However, its current market leadership and innovation pipeline make it a strong candidate for long-term portfolios. Risks and Challenges: 1. Geopolitical Risks: NVIDIA faces potential risks related to U.S. export restrictions on chips to certain countries, which could impact its revenue from international markets. Although the company has mitigated some of these risks through market diversification, any increase in geopolitical tensions or sanctions could create short-term headwinds for the stock. 2. Valuation Concerns: As a high-growth stock, NVIDIA trades at a premium valuation. Any earnings misses or lower-than-expected guidance could result in a sharper-than-expected correction. Investors should keep an eye on quarterly reports and forward guidance. 3. Macro Environment: Broader economic conditions, such as rising interest rates or declining consumer confidence, could affect NVIDIA’s performance. While AI demand may provide some insulation from broader market swings, macroeconomic factors still play a role in overall market sentiment. Conclusion: NVIDIA remains a strong stock for both short-term traders and long-term investors. Its leadership in AI, impressive financial results, and continued innovation make it a compelling growth story. While short-term volatility may arise due to market sentiment or broader economic conditions, the long-term outlook is bullish. Investors should use pullbacks as potential buying opportunities and stay informed of major product launches or geopolitical developments that could impact the stock’s trajectory. has context menu
NASDAQ:NVDA
by alfredomares2019
Will Ethereum Break $2,670? Key Levels and Market AnalysisAlright, ladies and gentlemen, we're looking at Ethereum Coinbase 4-hour chart. As you can see, it's been hovering around the 0.786 Fibonacci level for a few days, but it has faced multiple rejections today. The market buyers are present, but moderately so we need more buying pressure to push Ethereum above that 0.786 level. If Ethereum can break through, we could see it rise all the way to $2,670. Now, will ETH break $2,670? That depends on several factors : Volume and Buying Pressure : ETH needs strong buying momentum to break resistance at $2,670. Watch for an increase in volume, particularly during a breakout attempt, as it suggests investors are confident in the upward move. Overall Market Conditions : Broader market sentiment, such as Bitcoin's performance or movements in traditional markets, can heavily influence ETH. A favorable macroeconomic environment, like continued Fed rate cuts, could push crypto higher. Technical Indicators : ETH staying above key levels like the 0.786 Fibonacci or significant moving averages would improve its chances of testing and breaking $2,670. Macro Events : Regulatory news or unexpected developments in the crypto space could either fuel a rally or hinder progress. If buying pressure builds and ETH breaks through resistance, it could surge past $2,670. However, if it gets rejected again, we might see a drop back down to the $2,400 area. Let’s stay tuned and see how this plays out. Please hit that like button for more updates!
COINBASE:ETHUSD
by CryptocurrencyWatchGroup
PriceAction StrategyIn this chart we are focusing on 1h time frame for EURUSD currency pair. In this analyze we are using price action concept along with support and resistance. So here we have two conditions. 1: If price break the consolidation or ranging area toward upside than we will go for buy. 2: If price break the ranging area toward downside than we will look for sell. So wait for price when price give us clear breakout than after confirmation we will execute our trade. Always use proper risk to reward ratio for your trade.
by Bullionbuzz
“Nasdaq's Target is 19,500”Today, there is an expectation of a 25 basis point rate cut in the Fed meeting. By the end of the year, a total rate cut of 100 basis points is almost certain. This situation leads to a positive risk appetite being effective on the indices. On the U.S. side, retail sales increased by 0.1%. Meanwhile, industrial production in the U.S. pointed to a positivity exceeding expectations with a 0.8% rise. Technically, if the resistance level at 19,500 is permanently surpassed, the rise could gain momentum towards the 19,700 and then 19,950 resistance levels. On the downside, if the index falls below the 19,100 level, a pullback towards the support levels at 18,800 and then 18,450 might be seen.
NASDAQ:NDX
by primequotes
Brent oil trend moving down or up?Amid supply concerns in the markets, oil prices, which had dropped to the $69.30 level, saw a notable rebound. The American Petroleum Institute reported a 1.9 million barrel increase in weekly crude oil inventories, while a slight decrease is expected in the official crude oil inventories to be announced in the U.S. today. In the U.S., strong expectations remain that the Fed will cut interest rates by 25 basis points today. Therefore, despite the positive risk appetite, Brent oil prices have continued to trade with a bearish trend below the $73.00 level. Technically, if the 72.35 support level is broken, further declines toward 71.50 and 69.30 are possible. On the upside, if the 73.0 resistance is surpassed, buying momentum could accelerate toward the 74.30 and 75.50 resistance levels.
TVC:UKOIL
by primequotes
“The EUR/USD target is 1.11500”Last week, the ECB cut its interest rate by 25 basis points, in line with market expectations. ECB President Lagarde did not make any commitments for October but indicated that rates are on a downward path. As a result, pricing in favor of the Euro strengthened, with the EUR/USD pair reaching the 1.1130 level. As the new week began, the pair faced mild selling pressure but maintained prices above the 1.11 level. From a technical perspective, if the upward trend continues and the 1.1150 resistance is broken, the next resistance levels to watch are 1.1190 and 1.1275. On the downside, if pricing drops below the 1.1115 level, 1.1045 and 1.10 could act as important support levels for further declines.
by primequotes