Nvidia and TSMC at new highs—is this stock still at the bottom? (SpaceX Tesla Amazon.com Alphabet Broadcom
- What to look for
- Through examples involving 11 securities, you can examine the process of using combinations of 3 short-, medium-, and long-term indicators to decide whether to hold securities at new highs and when to buy those near their bottoms.
- Why it matters
- Learning how chart criteria such as raising support levels and reaching price targets are applied differently to each stock can help you independently follow the reasoning behind the presenter's decisions to buy, hold, or take profits.
AI summary
The video says Nasdaq 100 futures are positioned to continue trending upward as long as the lower boundary of the converging triangle does not break, and reports that Wall Street is focusing on corporate earnings rather than interest rates. It explains that S&P500 earnings for quarter 3 are expected to increase in the 20% range year over year, strengthening the argument that companies can withstand interest rates; the current P/E of 19 times is below the 5 year average of 19.8 times; and oil prices are falling amid a recovery in Middle Eastern crude exports, Saudi selling-price cuts, and the possibility of G7 strategic oil reserve releases. It repeatedly presents the criterion that if just 2 of the 3 short-, medium-, and long-term indicators rise, there is an 80% probability of an increase. Nvidia reached a new high with all 3 indicators rising, positions accumulated at the July (month 7) bottom are showing gains of approximately 19%, and the stated support level is 222 dollars. TSMC reached a new high by hitting 749 dollars, prompting an increase in its support level to 450 dollars. QQQ reached a new high after purchases at support of 700 dollars, prompting an increase in support to 730 dollars, with a recommendation to trade TQQQ in conjunction with it. SPY is said to be heading toward its previous high of 779 dollars while remaining above support of 760 dollars. Tesla rebounded from support of 352 dollars following better-than-expected deliveries and a mention of terapep [unclear caption], and the speaker says it could look toward 400 dollars if it breaks above 380 dollars. For SpaceX, amid Morgan Stanley's reaffirmation of a 300 dollar target, the speaker looks toward 200 dollars next after the stock reached target 1 of 170 dollars, while cautioning about a correction due to short-term overbought conditions. The speaker identifies a bottom of 360 dollars for Broadcom, a target of 370 dollars for Alphabet, a possible upward turn in Amazon's indicators above support of 255 dollars, a target of 555 dollars and support of 476 dollars for MS, which is up 39% from its July (month 7) bottom, and support of 690 dollars for Meta after its turn upward. All directional outlooks are the speaker's conditional assessments, not definitive predictions of short-term prices.