The sky’s the restrict for NVIDIA Corp. (NVDA), with the graphics and systems-on-a-chip famous person posting an outstanding 232% year-to-date return. The constant failure by rival Intel Corp. (INTC) to supply quick chips on time has altered the semiconductor panorama, permitting this market chief to take substantial and doubtlessly everlasting market share. Solely a idiot would name a long-term prime on this historic advance, making it exhausting to wager in opposition to the corporate forward of Wednesday’s earnings report.
Dow part Walmart Inc. (WMT) has crawled again to September 2020 resistance for the third time, elevating hopes the retail mega-cap will escape following Tuesday’s Q3 2021 earnings report, when the corporate is anticipated to put up a $1.39 per-share revenue. Nevertheless, WMT is navigating a minefield of skyrocketing wages and provide chain disruptions, identical to different retailers, so a quarterly shortfall can’t be dominated out.
Ripple’s XRP (XRP/USD) homeowners have watched in frustration since April as Bitcoin lifts into the stratosphere whereas their funding enters the seventh month of a pullback off a three-year excessive at 1.96895. Value motion throughout this era has compressed between quickly converging trendlines now at 1.30 and 1.00, suggesting {that a} breakout or breakdown is probably going previous to yr’s finish. The cryptocurrency reversed final week at trendline resistance, exposing one other 20% slide into help.
Commodity inflation has expanded effectively past agricultural and metals market and into uranium, which is having fun with essentially the most strong worth features since 2007. Global X Uranium ETF (URA) has emerged as a preferred option to play the uptrend, with the fund gaining greater than 430% because the March 2020 low. Higher but, the rally has simply mounted September resistance within the higher 20s, opening the door to continued features that would attain the $40 degree in 2022.
Tesla Inc. (TSLA) received beat up final week, dropping greater than 15% after CEO Elon Musk bought about $6.9 billion in shares to boost capital for an astronomical tax invoice. Sadly, it’s going to take multiple week to ease overbought technical readings following the 11-day 45% advance into the Nov. 4 all-time excessive at 1243.49. In flip, that units up a possible entry if and when the decline fills the Oct. 25 hole between 910 and 945, which has now completely aligned with the 50-day shifting common.
For a take a look at this week’s financial occasions, try our earnings calendar.
Disclosure: the writer held no positions in aforementioned securities on the time of publication.
