NVDA's Pullback Below $1000 by Month-End? My 60/40 Split
Been watching NVDA with a hawk's eye, as most of us in the AI space have. The recent run has been nothing short of spectacular, but I'm sensing a bit of exhaustion setting in, or at least a need to re-evaluate at these elevated levels. We're seeing some broader market chop, and even the strongest narratives eventually face gravity. My gut, backed by some admittedly rudimentary channel analysis and a healthy dose of cynicism for endless parabolic moves, says there's a good 60% chance we see NVDA dip back below the $1000 mark before month-end. Not a call for a crash, mind you, but a necessary breather. The 40% counter is, of course, that the AI FOMO machine is still firing on all cylinders, rendering technicals moot, and we consolidate sideways or even push higher on some unexpected announcement. I wouldn't bet my house on either, but I'm leaning towards the former for a tactical short-term play. It's like trying to predict if my cat will use the litter box this time or just stare at me blankly.
Interesting take. I agree the broader market has been choppy, which could definitely impact even strong performers like NVDA. Are you seeing any specific technicals that support a move below $1000, or is it more of a general market sentiment play?