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NVIDIA Corporation (NASDAQ:NVDA) has been consolidating for the past two months in a “diamond” bullish continuation pattern and, as the stock breaks out of this consolidation range, we expect it to continue climbing to new all-time highs. With our options trade, we are buying a strike price in line with the stock’s previous high from early August, but we wouldn’t be surprised if NVDA jumps to $180 or higher.
NVDA’s graphics-chip technology remains in high demand for computers, smart phones, gaming consoles and a variety of artificial intelligence (AI) applications, which should continue to boost the company’s revenue and earnings growth. As the S&P 500 breaks up to new all-time highs, watch for companies like NVDA to enjoy the ride higher.
‘Buy to open’ the NVDA October 175 Calls (NVDA171020C00175000) for a maximum price of $4.65.
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InvestorPlace advisers John Jagerson and S. Wade Hansen, both Chartered 蜜桃传媒 Technician (CMT) designees, are co-founders of Learning蜜桃传媒s.com, as well as the co-editors of , a trading service designed to help you make options profits by trading the news. Get in on the next SlingShot Trader trade and get 1 free month today by .
Most recently, John and Wade are co-options strategists of — a live, interactive trading room service that runs two hours every trading day the market is open. Turbo Trader Live focuses on long call and put options, as well as long and short vertical spread strategies. Find out how to get in on the live trading action and start making real profits by .
