We liked Nvidia’s result last week, but the demanding markets were looking for more, sending the stock down around 4% on Thursday and Friday. Our bid is around 5% below Friday’s close and may not get filled, but we feel that in the current market, chasing strength is fraught with danger.
- I believe the risk/reward towards NVDA is attractive if we see a minor “washout” this week.
Trade Idea: Buy Nvidia (NVDA US) at $US165 with stops at $US155 – 6% risk
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