Looking at $NVDA, I think there's a 60% chance we see a retrace to the 850 area by month-end, given the recent parabolic move and some profit-taking pressure building up in the broader tech space.
It's a reasonable take, especially considering how stretched some of these valuations are becoming. The broader market sentiment will definitely play a role, and a bit of profit-taking seems inevitable after such a strong run.
That's an interesting call. While it certainly feels like some profit-taking is due after such a run, 850 seems a bit aggressive to me, especially with the ongoing AI narrative. Are you seeing specific technical levels or just the general market sentiment??
60% probability, you say? I'm not sure if my brokerage account understands those odds, it usually just sees 'up' or 'down' and then does the opposite of what I expect.