Account

New to ADSS? Open an
account now to get started.

OR

Already have an account?

Add funds to your ADSS account

Account

New to ADSS? Open an
account now to get started.

Add funds to your ADSS account

Trends & Analysis
News

Gold closes week higher on rate cut speculations

News

Week Ahead Preview: 20th of May

News

Walmart’s stock hits record high on Q1 results

News

Crude oil rises on US supplies, inflation data

News

Another nice quarter for NVIDIA?

News

Alibaba delivers earnings miss, shares slide

Trends & Analysis
News

Gold closes week higher on rate cut speculations

News

Week Ahead Preview: 20th of May

News

Walmart’s stock hits record high on Q1 results

News

Crude oil rises on US supplies, inflation data

News

Another nice quarter for NVIDIA?

News

Alibaba delivers earnings miss, shares slide

Asset Watch

Another nice quarter for NVIDIA?

Thursday May 16, 2024

With meme stocks storming the scene on May 14th, GameStop, and AMC rekindled memories of the 2021 QE mania. And as ultra-high flyers are often an indicator of investors’ risk appetite, NVIDIA could have plenty of wind at its back in the weeks ahead.
On the fundamental front, the company reports Q1 earnings on May 22nd. HSBC increased its price target to $1,350, noting that “We believe NVIDIA will continue to demonstrate its strong pricing power via its NVL36/NVL72 server-rack system and GB200 platform, which will once again surprise the market on the upside in FY26.”
Jefferies also upped its price target to $1,200, telling clients that “it’s too early to sift out winners and losers in the AI basket yet, but NVIDIA is our favourite. NVIDIA maintains control over the entire ecosystem and is taking more pieces of the pie.”
So, with sentiment and the fundamentals trending in the right directions, could the technicals follow suit?

NVIDIA’s 50-day moving average shows a solid momentum sign as it’s decided the short-term bull-bear debate over the last several months. In December 2023 and January 2024, the stock bounced near the 50-day MA after breakdowns occurred in the months prior.
Similarly, with another 50-day MA breakdown in April leading to further losses, the stock has been perched near the key level and hasn’t done much for over a week. As a result, you should remain bullish when the stock trades above the 50-day MA and place your stop-loss order somewhere below it (depending on your risk tolerance) to avoid false breakdowns.
Is the stage set for another NVIDIA breakout to new all-time highs, or could the 50-day MA crack in the days ahead?


Site by Pink Green
© ADSS 2024


Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.

ADS Securities LLC (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates as a trading broker for Over the Counter (“OTC”) Derivatives contracts and foreign exchange spot markets. ADSS is a limited liability company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.

The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.

ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.