+12% In Week After Our Bullish Alert ... Where Is NVDA Headed Next?
by Mike Paulenoff
June 6, 2021 • 2:44 PM EDT
On the morning of May 27th, just hours after Nvidia Corp. (NVDA) reported earnings, Mike Paulenoff gave this bullish assessment to MPTrader members:
"In the absence of damaging weakness beneath last eve's algo, knee-jerk spike low at 611.02, and subsequent follow-through beneath 600, my technical work remains 'friendly,' and points higher, to test the ATH at 648.57, in route to 675-680 thereafter."
The stock, which was trading at 628.30 at the time, indeed followed the 'friendly' technical path Mike discussed, embarking on a relentless climb that hit new ATHs at 706.44 this past Friday, or 12.4% above its price at Mike's alert.
Where is NVDA headed next? Early this coming week, the company makes a presentation at the Evercore ISI TMT Conference, likely touting the strong demand for its new products in gaming processor chips and servers. Is the news baked into NVDA's 290% gain off of its March 2020 low?
Technically, the 715-720 level represents the next higher target zone from where NVDA could peak, stall, and roll over into a correction. That said, in the absence of weakness that breaks key significant support at 675, confirming that NVDA has peaked and reversed into a correction, a climb above 720 will trigger upside potential to 760-800 thereafter.
Join Mike and our membership for real time discussions and analysis of NVDA, as well as many other names of individual stocks, index futures, ETFs, macro indices, cryptocurrencies, precious metals, and commodities.
ARKK (ARK Innovation Fund, ETF)-- Back on August 20, 2025, this is what we discussed about ARKK:Fellow member Pawel has requested an update on Cathie Wood's fund, which in June thrust up and out of a 3-1/2 year base-accumulation period and pattern above 68.40/50 that subsequently climbed to my initial target in the vicinity of 80 (see my attached Daily Chart). Since the 7/21/25 high at 79.
On July 31, 2025, with SLV (Silver ETF) trading at 33.27, this is what we discussed about my technical setup:SLV-- On the subject of tariffs, copper, and silver, Trump extended the tariff deal with Mexico for 90 days, which included steel and copper, but NO MENTION of Silver (so far). Let's notice on my attached 4-Hour chart of SLV that the week-long nosedive from 35.91 to this AM's low at 33.
On February 18, 2025, this is what I posted on MPTrader about KWEB (Chinese Internet ETF) that alerted traders to a potentially explosive setup that should keep KWEB on our radar screens going forward :My attached Daily Chart shows that KWEB is attempting to emerge from a huge, three-year rounded base-accumulation setup that projects much higher prices as the price structure climbs the "recovery wall of worry" in the aftermath of the relentless bear phase from the February 2021 ATH at 104.
On July 29, 2025, this is what we discussed about TEVA (Teva Pharma), accompanied by my then-current 4-Hour Chart, just ahead of Earnings:My attached 4-Hour Chart setup argues that TEVA is poised for upside continuation of its April-May advance (12.47 to 18.67) EITHER right from current levels in reaction to a positive Earnings Report tomorrow morning, OR into a BTD bout of weakness into the 14.85-15.55 target support window.
On the morning of August 6th, I posted the chart below after seeing Fundstrat's Tom Lee discuss his CEO position in BMNR (BitMine Immersion Technologies), and the fact that BMNR was accumulating a large cache of Ethereum (ETH) that will serve as an ETH Treasury holding similar to the Bitcoin model used by Microstrategy's Michael Saylor. At the time, BNMR had climbed from 31.85 to 33.70, which piqued my attention technically:"BNMR ... once again is putting upward pressure on the 34.
