00:00 NVIDIA Corporation opened about 6.6% higher on Thursday after printing better than expected
00:06 second quarter earnings and announcing a $25 billion share buyback.
00:10 Benzing have predicted NVIDIA was likely to trade higher on Thursday due to the uptrend
00:14 the stock has been trading since August 14th.
00:17 When the semiconductor and AI stock opened Thursday's trading session, it reached a new
00:20 all-time high but began to drop on high volume, almost completely closing the lower gap before
00:25 popping up slightly higher.
00:27 Although NVIDIA remains in an uptrend, a pullback is likely to come over the next few days because
00:31 the stock will need to print a higher lower and its relative strength index is edging
00:35 towards a 70% mark.
00:36 Short-term traders looking to hedge a long position, play the dips within a potential
00:40 continued uptrend, or those who believe NVIDIA will fall more substantially over the next
00:44 few days can play retracements using the Axis 1.25x NVIDIA Bear daily ETF.
00:49 NVDS is a leveraged ETF aiming to track 125% of the opposite daily performance of NVIDIA.
00:56 This leveraged boost trade performance, potentially turning small brief dips in NVIDIA stock into
01:00 significant gains for traders.
01:03 Using this ETF eliminates the need to borrow NVIDIA stock from your broker to sell short,
01:07 offering retail traders an easy and convenient way to play NVIDIA bearishly.
01:11 NVDS reached a new all-time low of $32.93 on Thursday, which prompted traders who are
01:17 bearish on NVIDIA to come in and buy the dip in the short ETF.
01:20 NVDS was working to print a bullish Marubazu or inverted hammer candlestick on Thursday,
01:25 which could indicate the local bottom has occurred and the ETF will rise on Friday.
01:30 On Thursday, NVIDIA's RSI was measuring in at about 35%, which suggests the ETF is trending
01:35 toward oversold territory, making a rebound a likely scenario.
01:39 If the ETF continues to trend higher over the next few trading days, traders bullish
01:42 on NVDS want to see the ETF regain the 8-day EMAS support.
01:47 NVDA has resistance above at $35.01 and at $40.30, and support below $32.93 and the
01:55 psychologically important $30 level.
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