Target Thursdays: Nvidia, Ethereum & NAS100 hit targets

• Nvidia bulls pocket over 50,000 points

• Ethereum hits M30 targets ahead of SEC

• NAS100 blasts past all bullish price levels

It’s been a trading week defined by anticipation and heavy-hitting events!

As the long weekend approaches, here’s how these discussed instruments have performed:

1) Nvidia surges to fresh all-time high

• Where and when was Target Price (TP) published?

Nvidia’s quarterly earnings stole the spotlight this week.

In our trade of the week article published on Monday, 20th May:

We highlighted how “a solid set of earnings along with a forward guidance that excites investors could push prices to all-time highs beyond $1000.”

 

• What happened since TP was published?

Nvidia delivered blockbuster quarterly earnings with sales and profits beating analyst expectations!

In the fiscal first quarter, the company’s revenue more than tripled to $26 billion while profit was $6.12 a share. In addition, a forward stock split of 10-1 was announced - effective at market open on June 10.

Note: Stock splits do not change the financial fundamentals but make the shares cheaper. This could have a positive psychological impact on retail investors. 

Shares jumped over 7% in premarket trading on Thursday, with prices trading beyond $1000 at market open.

 

• How much in potential profits

50,000 points for traders who bought Nvidia shares on Monday around $950 and exited at $1000.

Note: Given how prices have gapped above the target price of $1000, this could translate to higher profits. 

 

2) Ethereum hits all bullish targets.

• Where and when was Target Price (TP) published?

This technical scenario (Ethereum) is based on the FXTM Signals that are released once a day, before the opening of the U.S. trading session.

These signals are designed around a trading instrument’s most influential factor – PRICE - making them a powerful asset to your trading strategy.

It can be found in the MyFXTM profile under Trading Services... FXTM Trading Signals.

 

• What happened since TP was published?

Growing anticipation ahead of the SEC’s decision today to approve or reject VanEck’s spot Ethereum application has translated to increased volatility.

Markets remain hopeful as we highlighted in our article yesterday (Wednesday, 22nd May).

The cryptocurrency could surge as much as 35,000 points if the SEC gives the green light.  

 

• How much in potential profits?

Ethereum has hit all 4 bullish targets.

Traders who entered at 3793.87 and exited at the final target level of 3847.10 would have gained roughly 5300 points.

 

3) NAS100 blasts past all profit targets

• Where and when was Target Price (TP) published?

This technical scenario (NAS100) is based on the FXTM Signals that are released once a day, before the opening of the U.S. trading session.

These signals are designed around a trading instrument’s most influential factor – PRICE - making them a powerful asset to your trading strategy.

It can be found in the MyFXTM profile under Trading Services... FXTM Trading Signals.

 

• What happened since TP was published?

Nvidia’s blowout earnings injected fresh life into the A.I hype. This turbocharged the tech heavy NAS100 to fresh all-time highs on Thursday.

 

• How much in potential profits

NAS100 hit all 4 bullish targets.

Traders who entered at 18895.5 and exited at the final target level of 18933.8 would have caught roughly 400 points.

Feel like you missed out on these profits?

You can keep following our "Daily Market Analysis" for fresh trading ideas and opportunities across global financial markets.

Nvidia Ethereum Nasdaq 100 Technical Analysis