I added additional shares today at 129.55.
The reason for the weakness today was that several companies reported changes to their fundamental outlook, with one company lowering the upside objective from $207 to $186. Nonetheless, several companies maintained their upside objective at $210 and on company (Piper Jeffries) maintained a $240 upside objective.
Nonetheless, the bears took this opportunity to push down to try to trigger stop losses. There is/was an important intraweek support at 128.56 that they targeted for breakage and they were successful in breaking it as the low today has been 128.43. Nonetheless, it is evident that level was targeted on pure manipulation of the prices as the minute it was broken, there was no additional selling and immediately thereafter and in using the 1-minute chart, the down move was negated with a $2.30 move up from the low in just 20 minutes, meaning the low for the day (and probably for this entire move down) a low has been set. This stock should now begin to rally from here on in, suggesting that today is the best time to purchase the stock.
and by the way, NVDA made another new all-time high today. The AI story stays true.
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