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

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.

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.

Sep 23, Wed

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.

Gold holds steady below $4,150 amid elevated US yields Gold price (XAU/USD) trades on a flat note near $4,140 during the early Asian session on Tuesday. Pressure from a stronger US Dollar (USD) and elevated US Treasury yields was offset by reduced expectations of a Federal Reserve (Fed) rate hike this month.

Author FXStreet

Oct 06, Tue

Gold price (XAU/USD) trades on a flat note near $4,140 during the early Asian session on Tuesday. Pressure from a stronger US Dollar (USD) and elevated US Treasury yields was offset by reduced expectations of a Federal Reserve (Fed) rate hike this month.

WTI rises to near $89.50 as Middle East supply threats offset Persian Gulf recovery West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $89.50 per barrel during the Asian hours on Wednesday. Crude oil climbed as persistent risks to Middle East energy flows overshadowed signs of rising supply from the region.

Author FXStreet

Yesterday 01: 26

West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $89.50 per barrel during the Asian hours on Wednesday. Crude oil climbed as persistent risks to Middle East energy flows overshadowed signs of rising supply from the region.

Gold Price Forecast: XAU/USD retraces gains and nears two-month lows at $4,104 Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and resumes its broader bearish trend, with the US Dollar (USD) appreciating across the board, as investors brace for the release of the minutes of the latest Federal Reserve (Fed) meeting.

Author FXStreet

15 hours ago

Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and resumes its broader bearish trend, with the US Dollar (USD) appreciating across the board, as investors brace for the release of the minutes of the latest Federal Reserve (Fed) meeting.

Popular Symbols