Score 7.3 (out of 10): NVIDIA poised to rally +6.8% rally in 2 weeks

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What’s Going On Here?

NVIDIA has reached a new shorter-term low. Previously, during similar occasions, NVIDIA shares had a median return of +6.8%, over the following 2 weeks based on 10 historical occasions with 8 of those showing positive returns (80% hit ratio). This buy signal for NVIDIA received a high score of 7.3 (out of 10). This insight was generated on 2023-April-25 with last price of 262.41.

NVIDIA is in the Electronic Compo-Semicon business. Based on the last 2 years’ risk/return profile, this asset is seen as Moderate Risk. Ticker symbol: NVDA US.

Historical Chart:

1.9% (December-2022), -10.8% (September-2022), 2.1% (June-2022), 25.2% (March-2022), 7.7% (December-2021), -0.1% (October-2021), 7.4% (July-2021), 9.4% (May-2021), 9.9% (January-2021), 6.3% (November-2020).

We found 2 weeks to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 280.3 (+6.8%) has been reached. Based on NVIDIA’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 251.41 (last price at 262.41), which is equivalent to a -4.2% decline.

Historical Chart:

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