Trends and Targets for 17/01/2019

NVidia Corp. #DOW #NK225 We’re scanning some popular US stocks, prior to their earnings reports. Traditionally, the US market exhibits a strong “buy on the rumour” tendency and with #Nvidia due to announce results in just under a month, there’s a fair chance for some logical movement near term.

In the case of Nvidia, the company whose brand name apparently drives all our graphics cards, it appears optimism is possible.

At time of writing, the share is trading around 151 and need only exceed 154 to enter a cycle, hopefully, to an initial 169. Surprisingly, closure above 169 is liable to exert considerable force on the price with a secondary target at 215 dollars. We’re fairly nervous about such a scenario, given the short timeframe until their results announcement whereas movement to 169 makes quite a lot of visual sense.

Here ends the good news.

When we zoom out and examine price moves from a bigger picture perspective, this is actually quite dangerous if the company opt to issue a negative report. Essentially the price could hit 113 in a blink but worse, if it were to find reason to trade below such a level, ultimate bottom is down at 80 dollars. We cannot calculate any target below such a point, so should 80 appear, a bounce is expected.

For now, we suspect 169 shall make an appearance.

Chart goes here.

 

FUTURES

Time Issued

Market

Price At Issue

Short Entry

Fast Exit

Slow Exit

Stop

Long Entry

Fast Exit

Slow Exit

Stop

Prior

9:37:05PM

BRENT

61.37

9:38:42PM

GOLD

1293.56

9:41:20PM

FTSE

6856.1

9:42:55PM

FRANCE

4806.8

9:45:37PM

GERMANY

10931

9:50:47PM

US500

2615.17

‘cess

9:54:21PM

DOW

24203.1

24090

24021.5

23932

24157

24290

24577.75

25027

24012

Success

10:00:46PM

NASDAQ

6661

‘cess

10:02:31PM

JAPAN

20518

20310

20221

20098

20502

20590

20640

20735

20400

Shambles

16/01/2019 FTSE Closed at 6862 points. Change of -0.48%. Total value traded through LSE was: £ 6,132,588,071 a change of 10.76%
15/01/2019 FTSE Closed at 6895 points. Change of 0.58%. Total value traded through LSE was: £ 5,537,022,075 a change of 5.74%

 

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