AI Stocks In TROUBLE? What’s NEXT For Nvidia!?

Okay, let's talk AI stocks, guys. In particular, Nvidia stock as big tech earnings are right around the corner. And you guys know it's all about it's all about capbacks guidance right now. That's what these stocks are waiting for. Pretty much the entire AI trade. So, let's talk about what I'm doing, where my head's at. And again, a bunch of these stocks like Nvidia, we'll cover memory stocks, other GPU names. So, let's dive into it. Hit the like button. Make sure to subscribe and of course of course guys, take a sip of your coffee or whatever whatever you guys are drinking right now. Cheers. I appreciate you all for tuning in. And let me know in the comments what state if you're in the United States, where you're watching this video from, and what city you're in or country if you're outside of the United States. Let me know in the comments. I appreciate all of you guys uh for tuning in all throughout the world, which still blows my mind to this day. I've been making content for almost 8 years, 9 years, close to a decade, and it still baffles me. I have viewers all around the world. That is insane. So, let's dive into it. Nvidia had a slight green day today. Not much. Um, about a quarter% in the green as the overall semiconductor index. Well, one of them I tracked, this ETF, the VANC semiconductor ETF. This had a slightly more green day. uh point4% in the green as socks went up which is another one people track about 045%. So not a bad day for semiconductors but obviously um not a great day either. It's not like we had a huge green day. It was just a slight green day. In fact, we gave back a lot of gains intraday, right? Socks hit 539 in the morning and it closed at 524. So we were at at one point we were actually up about 3 4%. Um and same thing on SMH which opened up at about 572 and it closed under 560. We dropped about 2 and a half almost 3% intraday as Nvidia went down from around 207 in the morning u to about 202 at close. It gave back a good amount of gains about two 2.5% intraday. And that's the story with pretty much every index today, every major stock. It popped in the morning and it gave back all the gains throughout the day slowly. And at this point, Nvidia again, all these AI, the chip names, the memory names, you name it, they're waiting on big tech earnings. What's capex looking like? are they increasing the capex which means more money will be coming into the pockets of Nvidia their earnings outlook will be um juicier same with companies like Micron you name it you know GPUs memory names and we get the first taste of that the capex from big tech the hyperscalers on Wednesday right we have earnings coming from Alphabet and we'll get even more earnings as the days and weeks go on here and Nvidia currently it's at where is it at 203 um and again this morning we hit 207 the inverse head and shoulders that we've been talking about is still intact you guys see it right here we have the left shoulder the head the right shoulder we have a golden cross right here um it's just that the right shoulder is kind of uh taking a little bit to play out consolidating we're still kind of in the consolidation phase of this pattern And again, it's going to come down to these earnings. I'm telling you, if Google gives us a shocking capex number, right? It might it might stun Google investors, but it's going to be good for um Nvidia. It might spook Google a little bit. Not saying they're going to tank or anything, like a Meta for example. Uh but hey, it's going to be good for Nvidia to say the least. And Micron, other stocks like that. And as long as Nvidia holds 200 202, uh, this inverse head and shoulders is intact, but it's not going to fully play out until we cleanly break at least 210 to 212. Um, which if I zoom in here, 210 to 212, that is a big resistance stemming back from uh the middle of June. Over a month now, close to a month and a half, Nvidia has been struggling to break through 210 and 212. And if it does, which I think it ultimately will, um, this pattern's really going to gain steam. And I think we could be at 220, 230 before we know it again, guys. And I'm kind of waiting on um not necessarily adding more shares until that breakout, but I guess when it comes to my trade, I'm looking to trade Nvidia. I also own long-term shares. I'm waiting for that break for my trade. Um, and let's say it does break out. this thing goes to 220, 230, I wouldn't be opposed to selling some calls at that point on my long-term position to kind of gain some um you know, additional capital, if you will. Um bolster my returns a little bit, get some extra cash by using my shares as collateral, collect the premium, and we'll go from there. That's kind of the plan right there, guys. But for now, I'm staying put on Nvidia, holding on to what I got, waiting for that 210 212 break to add a trade. Um, and I'll keep you guys posted on those call options. And by the way, on Patreon, shameless plug, when whenever I make a trade, a buy, a sell, an investment, a trade, an options move, I post it on Patreon and you guys get access to my private Discord community where we have hundreds of people right now. And shout out to all of you that have been joining the Patreon. And if you haven't yet and you want to check it out, no pressure. It's linked down below, pinned in the comments, or go to stocksurfest.com/patreon. So, let me show you some other stocks here. AMD actually had a pretty nice green day. um a 1.5% green day, but just like Nvidia, it's struggling at a key resistance right now, which was support for a little bit um at about 515, 520. That was support all throughout the end of June up until really about a week ago. So, we held that as support for a month. Then, [snorts] we broke through it. Now, we're struggling to break back out. We tried to earlier. And talk about a crazy reversal on AMD today. We tried breaking through earlier. In fact, we did. We were at 5:30 earlier in the morning. Um, and we just collapsed throughout the day. And again, that's the story with a lot of these stocks. And AMD has earnings coming up on the 4th of August, which is only two weeks away at this point, man. So, buckle up. Buckle up on AMD. We actually just had what? TSM's earnings, right? Yeah. Their earnings were a couple days ago, and this stock saw a decent rebound today. Another play worth watching, but a more important play I would say is Broadcom, which is finally starting um not to reverse, but arguably is putting in a bottom here at about 350 6070. Now it's at 380 almost. We had a 2% green day today. Broadcom looks like we have a cup and handle right here. Trying to bottom here at F uh 340 uh not 340, but mid high 300s, right? And look, we arguably have an inverse head and shoulders. Do you guys see it on this 4hour chart? If I zoom in, you guys kind of see that, right? All we have to do now is take out this little downtrend uh which I think it will in due time. And once AVGO takes out 400, I think that's the breakout spot uh for this one, right? Another one to watch is Intel, which today Intel had a 2% green day. We covered this one yesterday more in depth. Um they have earnings coming up on the 23rd. So a couple days I think that's Thursday after the bell. So keep your eyes on Intel. Um let me think what other ones in the space here. ASML had a decent actually it had a red day. I think earlier it was up again. That's the story. We were up earlier. We gave back all the gains. Um and of course memory stocks actually had a pretty good day. Uh Micron 2% up but like I said it gave back the gains. It was up even more. We actually touched 900 earlier today. Uh but we closed at 865. So keep your eyes on MU. I'm not the biggest fan of it here. Not that it's a bad company, but technically it might be going lower uh before it goes higher. Fair warning here, man, if we take out 800 850. I think we're going lower on Micron, but I think ultimately it's going to rebound and it's going to rebound strong in due time. Same with SanDisk, which had a 2.7% green day. It was up earlier uh more earlier. Um we gave back the gains and look, it could still see a further relief rally, but right now we're falling into close. Uh you know, after seeing a a beatd down on Friday, Thursday, Friday, we saw a little rally today, but it's selling off into close. Um, but either way, a lot of these had a green day and it's all coming down to big tech earnings, hypers scalers, and actually SanDisk has earnings on the 5th of August. That's going to be a big day. And I keep telling you guys, look, it's going to be hard to nail the bottom on these stocks. And if you want to own these stocks, your I, you know, your objective shouldn't be to nail the bottom. You're not going to nail the bottom. If you want to own these stocks, you know, start scaling in. buy a little bit, chip away at it, and before you know it, you'll have your full position built out and you'll smooth out um you know, your buys. You're not going to, you know, buy the top and then you're screwed. You know, you'll buy you'll buy on a big green day. You know, you'll buy a little bit, you'll add more when it goes down. That's the way I would do it, especially as now we're down a healthy amount on SanDisk about 40%. Micron's down 30 35%. Not saying to go buy those two. All I'm saying is in general the best time to buy stocks is when they're down, right? A good chunk. And if you don't want to, you know, go all in at once, that's fine. DCA, slowly buy in. Um, and that's that's the best way to do it, you know, in my opinion. Do your own research. But that's it. I don't want to hold you guys too long in this video. Uh, the AI trade is still in an uptrend. Don't freak out. It's all coming down to the hyperscalers. capex. That's going to show us, okay, is there still demand for these? A ton of demand for these chips? And uh will more money come into the bottom line of these companies? That's what it's all about. So, what do you guys think? Let me know in the comments. And don't forget to subscribe. Don't forget to hit that like button. Don't forget to join the Patreon. Again, link down below in the comments in um you know, in the description box. Go to staserfest.com/patreon. I'll see you guys in there. And with that being said, um, cheers. I appreciate you all for tuning in.