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NVDA to INTC: “Eat My Shorts”

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MAY 26 2023
   

Dear Investor,

With NVIDIA Corporation (NVDA) creating more market cap in a single day than any other company in history, we took a good look at the big tech names to see what looks over done and what has room to run.

Despite NVDA’s big move, the market isn’t rejecting the lofty valuation.

The 5-day volume profile below shows trading volume within a very narrow range.

 
 
This typically signals a breakout, though it’s hard to say which way usually. But $370 looks like really strong support. So, my bet is that the stock trades around this range for a few more days before continuing its march higher.

Advanced Micro Devices, Inc. (AMD) is consolidating gains, too. Setting the stage for another step higher.

 
 
Intel Corporation (INTC), on the other hand, is getting no love. I expect it will trade significantly lower over the next few months.

We also took a good look at Microsoft Corporation (MSFT) and Apple Inc. (AAPL). And to get a good look at these and other trade opportunities, check out today’s “Sizzle Stocks.”


Take What the Markets Give You.
 
 
   
 

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