By ForexTime
Check out these potential profits that you may have missed from our Daily Market Analysis.
- NAS100 bears snagged 638 index points
- Nvidia investors to reap 14% reward
- CN50 surges by 430 index points
1) NAS100 bears took advantage before Nvidia-fuelled rebound
- Where and when was Target Price (TP) published?
As written in our Week Ahead article on Friday, February 16th:
“Should 18000 prove to be a tough nut to crack, this could encourage a decline back towards the 17500 higher low …”
- What happened since TP was published?
That 18,000 psychological level was indeed a “tough nut to crack” this past Friday.
The tech-heavy NAS100 then fell from 17965.7, briefly broke below 17,500 to hit as low as 17,327.2, before rebounding.
- How much in potential profits?
638 index points for traders who shorted (bet prices will move lower) this tech-heavy index from peak to trough since Friday.
Free Reports:
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
The downward move ended as the NAS100 rebounded after Nvidia posted better-than-expected financial results.
2) Nvidia set to reward investors with 14% post-earnings boost
- Where and when was Target Price (TP) published?
As written in our article titled “Nvidia earnings preview: Moment of truth…” on Wednesday, February 21st.
“Given how Nvidia shares ended Wednesday’s session around $675, this is equivalent to a rally towards fresh all-time highs …”
- What happened since TP was published?
Nvidia, the US chipmaker whose GPUs are essential to the AI industry, reported better-than-expected earnings after US markets closed on Wednesday.
This sent the stock soaring by more than 14% in Thursday’s early trading session (before US markets officially open).
- How much in potential profits?
Investors stand to gain 14% overnight
That’s if they had bought this stock yesterday (Wednesday) and hold on today, assuming the gains from the pre-market session carries over into today’s (Thursday) US market open.
Nvidia is then set to register a new all-time high today (Thursday)!
3) CN50 reaches 12,000 psychological level
- When/where was Target Price (TP) published?
“CN50: Needs more spark post-rate cut” on Tuesday, February 20th.
The article cited the “psychologically-important round number level” of 12,000 as a potential resistance.
- What happened since TP was published?
The CN50 index surged on Wednesday (day after this article was published) likely due to some market intervention in China.
After briefly breaking above that 12k mark, the psychologically-important level duly acted as a resistance level, as mentioned in the article.
- How much in potential profits?
Traders who opened long positions (bet that prices will go up) on the CN50 index on Tuesday, would have watched this index climb by as much as 430 index points the next day.
At the time of writing on Thursday (Feb 22nd), the CN50 index is still holding on to most of Wednesday’s gains, and is just hovering below that 12k TP.
Article by ForexTime
ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com
- Australia will release its annual budget today. Rising inflation expectations hurt US stock indices May 14, 2024
- JPY declines again May 14, 2024
- Trade of the Week: CHINAH to extend lead as Asia’s winner? May 13, 2024
- The German index has hit an all-time high. China sees rising consumer inflation May 13, 2024
- Brent crude oil faces downward pressure amid demand uncertainties May 13, 2024
- COT Metals Charts: Speculator bets led by Platinum & Copper May 11, 2024
- COT Bonds Charts: Speculator bets led by Fed Funds & Ultra 10-Year Bonds May 11, 2024
- COT Stock Market Charts: Speculator bets led by DowJones & Russell 2000 May 11, 2024
- COT Soft Commodities Charts: Speculator bets led by Corn & Soybeans May 11, 2024
- Natural gas prices are rising amid falling inventories. The Bank of England expectedly kept the rate May 10, 2024