$NVDA
Added 2024-04-17 21:11:31 +0000 UTCSemis got hit hard today, I was watching $AMD for awhile today to see if it could find support but kept slipping and looked weak all day, $INTC was similar.
$NVDA also finished the day down more than -3% too.
$NVDA is testing its 50 Day MA here too.
I think the market believes that $NVDA may not be as safe at these elevated prices if the market does take a turn.....losing the 50 Day MA will be significant here, and it follows $MSFT as one of our big 4 that needs to drop to take the market.
$NVDA, $MSFT, $GOOG and $AMZN.....so far $MSFT has losts its 50 Day and $NVDA may be next, there is still some margin for $AMZN and $GOOG to go.
I have added in the ABC correction here for $NVDA if the 50 Day MA is lost.
Comments
Im talkimg about amd brother. If nvidea by the end of year heading towards 500 range being a market leader. How come amd will end the year at 280 while it is currently at 150. I hope you understand my point this time.
NalaikPanda
2024-04-18 14:35:11 +0000 UTCThere’s time for a correction. It will be post May. Until then buy the dip algo keeps working. We’ve had first test of 50 MA for many Large caps. It takes time for trend to breakdown
Surbhi Verma
2024-04-18 14:30:38 +0000 UTCI am not saying market leaders will nt do correction. I am sayimg if market leader to do correction then how come amd to go up while the market leader is heading downwards.
NalaikPanda
2024-04-18 11:11:17 +0000 UTCOnly Apple has corrected and has significant catalysts for the drop. Where do you see MSFT correction? NVDA has significant tailwinds. Take EW with a grain of salt. It’s just a guide.
Surbhi Verma
2024-04-18 10:56:48 +0000 UTCMicrosoft is also a market leader, and so is Apple. Both have begun correcting. Market leader doesn't mean no correction.
Shaleen Deep
2024-04-18 04:08:36 +0000 UTCNVDA is severely undervalued even at $1200. It's forward pe is far lower than Microsoft.
Shaleen Deep
2024-04-18 04:07:38 +0000 UTCNvidea is a market leader..how come nvidea gets to finish 2025 at 500ish and and gonna go opposite direction to nvidea and can end the year at 270?
NalaikPanda
2024-04-17 22:23:17 +0000 UTC@Gar You're calling a local top too early on $NVDA. I would say $NVDA gets overvalued towards $1200 before we see a substantial drawdown.
Surbhi Verma
2024-04-17 21:50:15 +0000 UTC
