CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Nvidia (#NVDA)

Special Reports - 21/06/2024

21 June, 2024

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Nvidia (#NVDA) Weekly Special Report based on 1 Lot Calculation:

The Company -

  • NVIDIA develops and produces three-dimensional graphics processors and other related software. Additionally, the company also produces graphics processing units, which is a critical component when developing artificial intelligence and self-driving autonomous vehicles.

  • NVIDIA’S LATEST PRODUCT PIPELINE FOR THE AI CHIP SECTOR: Nvidia’s CEO said the company now plans to release a new family of AI chips every year, accelerating its prior release schedule of roughly every two years. The current pipeline includes the Blackwell chip, set for release in 2024; The Blackwell Ultra, set for 2025; The Rubin chip, set for 2026 and the Rubin Ultra, set for 2027.

EVENT:

  • NVIDIA 10:1 STOCK SPLIT COMPLETED (JUNE 10, 2024): Nvidia recently completed a 10:1 stock split, in which each shareholder received 10 shares per existing share held. Since conducting the stock split, the stock is trading around 8.3% higher.

ANALYSIS:

  • NVIDIA’S MOST RECENT POST-STOCK SPLIT PERFORMANCE WAS STRONG (July 20, 2021): THE STOCK ROSE ~86% IN THE FIRST FOUR MONTHS AFTER THE STOCK SPLIT IN 2021 (July 2020- November 2021 from $186.24 to $346). (Data Source: Meta Trader 4 Platform).

*Please note that past performance does not guarantee future results

  • NVIDIA STOCK SPLIT HISTORY

Data Source: Yahoo.Finance

*Please note that past performance does not guarantee future results

  • NVIDIA IS EXPECTED TO CONTINUE ITS SUBSTANTIAL GROWTH MOMENTUM –

Source: Bloomberg

OTHER NEWS –

  • NVIDIA BECOMES THE LARGEST COMPANY IN THE WORLD, NOW WORTH AROUND $3.34 TRILLION: Nvidia has overtaken Apple and Microsoft in terms of market capitalization, making it the most valuable company in the world. The company has increased its market value by almost 200% since the beginning of 2024.
  • ACCORDING TO RECENT REPORTS, NVIDIA MAY BECOME PART OF THE DOW JONES 30 AFTER ITS STOCK SPLIT: According to recent reports, Nvidia could replace Intel on the Dow Jones index after its stock split. If this materializes, Nvidia would join a very small group of companies that share that title. The companies include Amazon, Apple, Cisco, Honeywell and Microsoft.

Price Action –

  • ANALYSTS OPINIONS: Wells Fargo: $155, Rosenblatt Securities: $200, Barclays: $145,

  • STOCK PRICE POTENTIAL: NVIDIA was last trading at $130, with Rosenblatt Securities targeting $200 indicating a potential upside of ~54% should these forecasts materialize. However, the price could also decline further.

Nvidia, June 21, 2024
Current Price: 130.00

NVIDIA

Weekly

Trend direction

UP

Resistance 3

200.00

Resistance 2

170.00

Resistance 1

150.00

Support 1

115.00

Support 2

110.00

Support 3

105.00

Example of calculation base on weekly trend direction for 1.00 Lot1

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

70,000.00

40,000.00

20,000.00

-15,000.00

-20,000.00

-25,000.00

Profit or loss in €²

65,466.45

37,409.40

18,704.70

-14,028.52

-18,704.70

-23,380.87

Profit or loss in £²

55,304.71

31,602.69

15,801.35

-11,851.01

-15,801.35

-19,751.68

Profit or loss in C$²

95,816.35

54,752.20

27,376.10

-20,532.08

-27,376.10

-34,220.13

  1. 1.00 lot is equivalent of 1000 units
  2. Calculations for exchange rate used as of 09:55 (GMT+1) 21/06/2024

Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.

  • You may wish to consider closing your position in profit, even if it is lower than suggested one
  • Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more detail
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