Earnings are going to be great, they cant even meet demand on these cards, shelves have been empty for months!
Calls anyone? Then see if it sells off after earnings.Had a strong run so far this month. Be interesting to see how it plays out.
This so called price correction has questioned my feeling towards nvidia. Are thoose earnings going to be that good, that will drive value of the stock up? I have closed my position at 539,90. I have opened when it was 576,76. I was going for long buy solution, but it backfired a bit. But i have re-entered at 541,36, holding it to recover last loose.
I'm still very bullish on NVDA. I don't think this correction is anything related to the company at all, but more-so a correction in the Tech sector as a whole. It depends on your timeframe whether or not you should hold or not. I'd say for a decent-length swing-trade, this would be my support that I'd cut ties with the stock if I was concerned. If you're still bullish though, that doesn't mean you'd need to. If you're a little shorter-term and want to be a little less risky, you could stop out here if you're trying to limit losses. Otherwise, it's still trending awesome long-term as you can see in the daily chart above. Very dependent upon your risk-aversion and what type of trade/investment you are trying to do.
It would have been more profitable to buy all the 3070's on the day of release and sell them a month later!
Then again, it has a PE of 94, it pays skee-ball coupons for dividends, it has a chart that looks like an alligator head on top of a stork's neck, it just spent 7 days above the 6-month-old-plus trading range and couldn't muster enough demand for a pre-ER ramp to overcome the sellers (an upthrust after distribution?). I don't see much to like here.
By the time frame that you showed. I can see with this today correction, total of four bigger corrections that happend in 2020. one in march, second in september, one in november and this last in 2021. It could be a good idea to buy the dip or in other words, corrected price, if i'm correct. And take it as a long buy.
My prediction Looking at the past 30 days. Blowout earnings, selloff. BORSON strikes again, draw in new buyers at the top and collect profits.
I think its fair to say that every single card they made has been sold, so its just a question of what their production rates were.
Theory time: Ethereum mining has been the main reason that every single card is snapped up by scalpers or miners. Ethereum is moving to ETH 2.0 is a POS rather POW. Some miners will choose to switch to other coins, but none will be as profitable as ETH was. I predict sales from NVDA to start normalizing again and drop back to normal demand rather then crypto demand.
