Nvidia has been the most followed stock of 2024 by far, but that does not mean it still does not have room to run. In fact, when we look at the chart, it is setting up in a classic looking cup and handle base. What's important to note is that both the QQQ and IWM are also carving out similar patterns. While Nvidia does make up 7.5% of the Nasdaq 100, it's good to see other stocks setting up as well. I could definitely see a scenario where traders and fund managers who were caught "flat footed" expecting to market to collapse turn to familiar names like NVDA when looking to gain exposure. I currently own NVDA, but may look to add to my position should it break out in the coming weeks.
Risk right. Sit tight.
To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page.
Full Disclosure: I currently own NVDA.
Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.
Comentários