Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Nvidia's stock is breaking out, Fairlead Strategies says

Source Investing

AI behemoth NVIDIA's (NASDAQ:NVDA) stock is breaking out and could be heading to its June high of around $141 per share, according to technical analyst Katie Stockton of Fairlead Strategies.

"Heavyweight Nvidia (NVDA) confirmed a triangle breakout yesterday, supporting near-term follow-through toward its June high (~$141)," Stockton said. "While the SPX and NDX have seen short-term momentum weaken, NVDA’s breakout is likely to prevent a major pullback in the major indices, which is part of the reason why we keep a short-term neutral bias for U.S. equities in today's Fairlead Tactics."

NVIDIA stock has been up six straight sessions, including today's fractional gain of 0.12%. The stock is up more than 170% year-to-date.

Analysts have been increasingly bullish on the company's Blackwell product, which the CEO Jensen Huang said is seeing "insane" demand.

"Blackwell is in full production, Blackwell is as planned, and demand for Blackwell is insane," Huang said on CNBC's last week. "Everyone wants the most, and everyone wants to be first."

Today, Taiwan Semiconductor Manufacturing (NYSE:TSM) reported that September sales beat estimates on solid AI chip demand. TSM said revenue for September 2024 was approximately NT$251.87 billion, an increase of 0.4 percent from August 2024 and an increase of 39.6 percent from September 2023. TSM makes NVIDIA's AI chip.

On Tuesday, analysts at Morgan Stanley (NYSE:MS) said Blackwell production revenue in 1Q25 may surpass Hopper. Blackwell chips command a price premium, with B200 chips priced 60-70% higher than H200, positioning Blackwell revenue to overtake Hopper in the upcoming quarter.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

Sep 20, Sun

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Bitcoin rallies near $86K on improving markets ahead of quarterly options expiry Bitcoin (BTC) market conditions improved over the past week as spot buying pressure strengthened and derivatives positioning increased, pushing the top crypto near $86,000.

Author FXStreet

Yesterday 01: 16

Bitcoin (BTC) market conditions improved over the past week as spot buying pressure strengthened and derivatives positioning increased, pushing the top crypto near $86,000.

Dollar holds above 100 near a 3-month high — three Fed speakers and a $69 billion auction land tonight The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

Author Suzie

Yesterday 06: 34

The dollar index closed at 100.43 on Monday, its highest close since late July, after a weekly gain of about 1% — the best in more than three months — and is holding above the 100.00 handle in Asia. Three Fed officials speak tonight alongside a $69 billion two-year note auction, the first leg of $183 billion of Treasury supply this week.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

3 hours ago

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Popular Symbols