Will Nvidia Get "Medieval" On Us? Why JR Romero Still LOVES This Stock

A Deep Dive into Nvidia’s Market Dynamics and Future Outlook

Date: 2024-12-04

In a recent discussion, market analyst J.R. Romero offered an enlightening insight into Nvidia’s current stock trajectory, reaffirming his love for the stock despite its complexities and the broader market conditions. Romero’s analysis, filled with financial terminology and market expectations, shed light on why Nvidia continues to be a fascinating stock for investors and tech enthusiasts alike. The conversation wove through technical analysis, future price targets, and comparative insights with AMD, another heavyweight in the technology sector.

Understanding Nvidia’s Recent Market Behavior

Romero began by referencing his previous prediction of a “Biblical rally” for Nvidia, humorously playing with the phrase "get medieval," alluding to a significant shift or tough stance in its market behavior. According to him, Nvidia’s stock looked promising due to several technical indicators that painted a rosy picture of its trajectory. He detailed a "beautiful little regression channel" and an "anchored VWAP (volume-weighted average price) confirmation," rooting from the September 11 Breakaway Gap, which suggested a bullish pattern.

Further, he highlighted the accommodating volume profile at the bottom of a value area within a strong uptrend. Such technical formations usually suggest a likely continuation of upward movement, pending the stock’s ability to break through any overhead resistance.

Analyzing the Key Resistance Zone

Delving deeper, Romero turned his attention to Nvidia’s overhead supply, marking the strong P profile with a distributive up-thrust on the November 21 failed breakout. His analysis pinpointed $147.50 as a critical resistance level, raising the question of how much time the stock would need to absorb the overhead supply effectively.

Despite the apparent resistance, Romero remained optimistic about Nvidia’s potential, implying that the stock’s fundamental strengths and market position could enable it to overcome these challenges.

Romero’s Price Target and Stock Strategy

Interestingly, Romero expressed continued enthusiasm for Nvidia, supporting the idea of a $200 price target in due course. This ambitious target follows Nvidia’s recovery from an August shakeout, indicating a robust market comeback. He anticipated a short-term to intermediate-term target of around $170.60, assuming the stock successfully navigates the recognized resistance zones.

Comparative Analysis: Nvidia vs. AMD

To add further context, Romero compared Nvidia’s performance with that of AMD, which was prompted by an audience query. Notably, Romero had made a recent purchase of AMD stock, driven by technical considerations rather than the broader market moves that might impact Nvidia. He outlined his buying rationale, which was supported by AMD’s bullish consolidation pattern and a potential higher pivot on shorter time frame charts. While both companies are giants in the tech industry, their stock behaviors presented distinct narratives and opportunities, underscoring the need for tailored investment strategies.

Conclusion: Nvidia’s Promising Horizon

J.R. Romero’s in-depth analysis and bullish stance on Nvidia underline a compelling case for its future growth potential. His commentary not only highlights the intricate dance of stock-specific factors and broader market movements but also reassures investors about the latent potentials in Nvidia’s trajectory.

Romero’s expertise in reading and interpreting market signals serves as a guiding light for investors navigating the volatile tech sector. With a clear strategy and vigilant analysis of technical markers, his perceptiveness about Nvidia’s and AMD’s journeys offers a rich tapestry of insights for stakeholders to consider in their investment decisions.

In conclusion, whether Nvidia will truly get “medieval” in its market actions remains to be seen, but with analysts like J.R. Romero keeping a close watch, investors have a wealth of information to draw upon, making informed decisions in an ever-evolving market landscape.

Watch this video below for more info:

Will Nvidia Get “Medieval” On Us? Why JR Romero Still LOVES This Stock



2024-12-04 19:08:02
Get JR’s eBook: https://www.t3live.com/jr-ebook-yt

Last week, JR Romero predicted Nvidia stock would have a “BIBLICAL” rally. It was at $132 then. Now that’s it’s hit $145, can it get “Medieval” on us?

He answers in this video, and also gives his opinion on Advanced Micro Devices $AMD.

Check out last week’s video here: https://youtu.be/twvR8E2UfTA

Video transcript:
so J.R last week you predicted a Biblical rally for NVIDIA so is NVIDIA is it going to go like in the words of marcelos Wallace is it is it about to get medieval on us oh my goodness the Pulp Fiction reference this early in the morning look it looked good for the reasons I mentioned so you know we had we had everything we were looking for right uh a beautiful little regression Channel um right there we had anchored bwap confirmation uh you know off the off the um September 11 Breakaway Gap right to the bottom there to the bottom of the play and a very accommodating uh you know volume profile if you’re looking at the volume price analysis uh of Nidia we’re right at the bottom of a value area within a very clearly strong uptrend so technically the the balance the technical balance was expected the question is okay what are we going to do in to this distribution top you have you have some overhead Supply here it’s a very strong P profile with a Distributive up thrust on the November 21st uh failed breakout so you know you you’ve got a you know 147 and a half is now in play the question is how much time are we going to spend absorbing uh absorbing that potential overhead Supply so that’s really the question uh on the trade I’m letting it work you know you know and uh we’ll see what happens okay but uh do you still like it up here yeah I think it looks great okay uh two so you you floated the idea of a $200 Target you still that still sound good to you you gotta you know accept the price cycle right so well we had that August strong August ShakeOut right a a strong two if corrective that gave you a b pivot on the on the uh on the new channel and we’ve been you know phy of the price cycle trending higher uh we’ve got to get through the overhead Supply Zone around 14750 148 and then I expect uh you know I expect some some absorption through the level and then we’re going to be looking for a measured move leg to the top of the channel around 17060 or so so you know that would be the the next shortterm shorter term interterm Target okay could you comment on AMD quickly since our friend um sirel in the audience is asking about AMD yeah so AMD I bought on Monday uh so we had a a little shake out of this prior power pivot there at 13373 we bought it on Monday uh around 13870 something like that uh with a Target being the daily 21 and now you’re getting a kind of a bullish consolidation and now what I was looking for was like a higher pivot low on the 4 Hour chart or the daily chart uh so if we if we manage to take out 14350 or so okay there maybe there’s a chance we see 150 150 and a half but uh this is a very different type of chart right this and a much more technical play AMD is not moving like Nvidia they’re are very different charts