NVIDIA GOING TO $75?? Unlikely but the chart shows...

15 thg 10

We have a DOUBLE TOP AND A RISING WEDGE with a price target of $75 on the daily chart. It seem unlikely but there is a big old gap from back in Feb 2024 at $75. There is another gap that needs to be filled around $119 that seem more likely. IMO the market like to balance itself by filling the gaps it leaves behind. The RSI looks to of topped out and is also curving over. Its very unlikely for NVDA to drop that far down, but down to $119 seems likely before a possible Christmas rally (and wash sales) in late DEC. NVDA is such a strong company and demand for its chips is high, I really don't like the looks of that Double Top combined with a Rising Wedge. Safe Trading everyone!! (Charts are only part of the bigger picture especially with Nvidia, it is a beast of a company and who wouldn't love the opportunity to buy more NVDA at $75)

24 thg 10

Ghi chú

10/23/24 Nvidia's yield-killing design flaw in its Blackwell GPU was fixed months ago, and a refined version of the B100/B200 processors is about to enter MASS production. Jensen Huang, Nvidia's CEO, admitted this week that the flaw was entirely caused by Nvidia and said that the company's production partner TSMC helped fix it in a timely manner, according to Reuters. "We had a design flaw in Blackwell, it was functional, but the design flaw caused the yield to be low," Huang said. "It was 100% Nvidia's fault."

When the first reports about the design flaw emerged, some media outlets reported that TSMC was to blame and suggested this might be causing strain between Nvidia and its foundry partner. This was not the case, according to Huang. Nvidia's own miscalculations caused the problem. Huang also dismissed reports of tensions between the two companies as "fake news."
The now-fixed Blackwell GPUs for AI and supercomputers will enter mass production in late October and should start shipping early next year (which will still be Nvidia's fiscal year 2025). Wow so much demand!!