What is up with the market this week?
I've been closely monitoring the performance of two stocks:
Let's delve into their recent trends and potential future trajectories.
Beginning with $LLY, its price experienced significant fluctuations yesterday, ranging from $691.19 to $742.00. Over the past 10 days, it has seen an upward movement on seven occasions, resulting in an overall increase of approximately 12%. Despite a million-share increase in trading volume yesterday, accompanied by a slight price decline, investor sentiment appears mixed. Certain indicators suggest the possibility of further upward movement, notably supported by both short and long-term Moving Averages signalling a favourable buying opportunity.
Beginning with $LLY, its price experienced significant fluctuations yesterday, ranging from $691.19 to $742.00. Over the past 10 days, it has seen an upward movement on seven occasions, resulting in an overall increase of approximately 12%. Despite a million-share increase in trading volume yesterday, accompanied by a slight price decline, investor sentiment appears mixed. Certain indicators suggest the possibility of further upward movement, notably supported by both short and long-term Moving Averages signalling a favourable buying opportunity.
However, there are also cautionary signals indicating potential resistance, suggesting a more nuanced outlook. Nonetheless, some investors view the current situation optimistically, anticipating further gains in the coming months.
Turning to $NVIDIA (NVDA.US)$ , it recently experienced a 5% fluctuation, ranging from $663.00 to $697.54. Over the past 10 days, it has maintained a relatively steady upward trajectory, accumulating a 14% increase overall. While showing promise in the short term, there are concerns that it may be nearing its peak.
Turning to $NVIDIA (NVDA.US)$ , it recently experienced a 5% fluctuation, ranging from $663.00 to $697.54. Over the past 10 days, it has maintained a relatively steady upward trajectory, accumulating a 14% increase overall. While showing promise in the short term, there are concerns that it may be nearing its peak.
Breaking above $696.18 could signal further upward momentum, although apprehensions regarding its current valuation, particularly with insider selling activity, raise caution.
This looks like a darling stock for 2024 beating $Tesla (TSLA.US)$ my all time favourite. I think $NVIDIA (NVDA.US)$ is like catching a flying rocket as the PE ratio of 90 is crazy, however, the risk includes many insiders had sold more shares in the past 3 months, indicating profit taking activity. $NVIDIA (NVDA.US)$ exceeded the US semiconductor industry average which returned 76.5% since 2023. A couple of analysts believed its current price is 81.4% overvalued, based on earnings report and a fair value would only be ranging around $376 - $380. Analyst opinions vary, with some questioning its valuation while others foreseeing substantial long-term growth potential .
Next, regarding my all time favourite
$Tesla (TSLA.US)$ , it appears to be holding a steady price at around $183.25. A drop to this level might present a buying opportunity, but caution is warranted as both short and long-term Moving Averages suggest a possible downturn. It dips below a support or high support of $174 which occurred during premarket yesterday. Additionally, resistance levels at $187.53 and $223.38 could impede a potential upward movement. Despite higher buying volume, future trends remain uncertain. A potential drop below $177 might still signal a good buy, but investors should remain caution to not over leveraging as you should not hold too much shares of individual stocks exceeding 10% of your overall portfolio.
Lets watch the market today good luck guys!!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Believer in value investing, swing trading on momentum plays
387Followers
28Following
1025Visitors
Follow
EZ_money : Nvidia way too high needs to go down 600
Riddick705 OP EZ_money : Agreed