Is Nvidia Stock Headed Back Toward All-Time Highs? Here's What The Chart Indicates Ahead Of Fed Minutes
Portfolio Pulse from Melanie Schaffer
Nvidia Corporation (NVDA) stock is consolidating after Monday's surge of 8.66%. The stock's movement is in line with the S&P 500, which is trading flat ahead of the Federal Reserve's July minutes release. The ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY) and ProShares Ultra VIX Short Term Futures ETF (UVXY) are options for traders wishing to trade the potential volatility. NVDA stock has formed a possible bull flag pattern, suggesting it could be headed back toward all-time highs.
August 16, 2023 | 3:21 pm
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POSITIVE IMPACT
NVDA stock is consolidating after a surge and has formed a possible bull flag pattern, suggesting it could be headed back toward all-time highs.
The news indicates that NVDA stock is consolidating after a surge and has formed a possible bull flag pattern. This pattern is often a bullish signal, suggesting that the stock could be headed back toward its all-time highs.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The SPKY ETF is an option for traders wishing to trade the potential volatility ahead of the Federal Reserve's July minutes release.
The news mentions the SPKY ETF as an option for traders wishing to trade the potential volatility ahead of the Federal Reserve's July minutes release. This could lead to increased trading activity in the ETF, but it's uncertain how this will affect its price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The UVXY ETF is another option for traders wishing to trade the potential volatility ahead of the Federal Reserve's July minutes release.
The news mentions the UVXY ETF as an option for traders wishing to trade the potential volatility ahead of the Federal Reserve's July minutes release. This could lead to increased trading activity in the ETF, but it's uncertain how this will affect its price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70