NVDS is a leveraged ETF aiming to track 125% of the opposite daily performance of NVDA. This leverage boosts trade performance, potentially turning small, brief dips in Nvidia’s stock into significant gains for traders. Using this ETF eliminates the need to borrow NVDA stock from your broker to sell short, offering retail traders an easy and convenient way to play Nvidia bearishly.
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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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