NMS Investment Research

Bitcoin is stuck under trendline resistances at ~ 69k, or the Nov'21 high. June's macro conditions could provide the next catalyst for bitcoin to make a breakout, per CoinDesk. Be aware, though, that a rejection from the trendline resistances could send bitcoin back down to retest the trendline support ~ 65k. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

Tesla stock pulled back 1.41% on Monday to close at $174.95, just below its 50-day EMA, following news that Tesla's CEO would take AI and robotics outside the company if he doesn't get 25% voting power. Shareholders will have to make their decision on the subject matter at Tesla's Annual Shareholder Meeting on June 13. Some of them may have already decided today and sold their shares. In March 2023, Elon Musk founded his AI company xAI Corp. in San Francisco, CA. No one knows how xAI Corp. and Tesla's AI will be connected if Elon gets his wish. The downtrend of Tesla stock remains intact. There is plenty of noise but TSLA could trade sideways under its 50-day EMA (green line) until June 13. Stay tuned and tighten your seat belts! This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

Nvidia stock pulled back from the trendline resistance ~ $945 on Friday after Microsoft announced that they will offer their cloud customers clusters of AMD MI300X AI chips, an alternative to Nvidia H100 GPUs. Nvidia Q1FY25 is due on May 22. The market is expect ing Q2FY25 earnings to grow more than 120% (~$5.92 per share) and nearly 100% revenue growth (~$27-$28B) , per Yahoo Finance. Guidance that meets expectations might not be enough to drive the stock higher. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

Apple stock is retesting the resistance level at $190 and will most likely move higher to retest its $3 trillion market valuation at $195.59. One should be aware that the 50-day EMA (green line) is rising rapidly and will crossover the 200-day (red line), forming a golden cross, if the stock can stay above the $190 level. So stay tuned! This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

The Thailand SET index could be heading down to retest the April 2024 low at 1,330.55 if the relative strength (RS) between MSCI Thailand and MSCI Emerging Markets (EEM) breaks below 1.37. It looks like foreign institutional investors are pumping money into equities in China, India, Korea, Taiwan, and Japan. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

The S&P 500 is retesting its trendline resistance ~ 5,239, ahead of PPI and CPI data on Tuesday and Wednesday, respectively. The market could be very volatile next week as several Fed officials will speak, while Biden's new tariffs on China EVs, solar panels and medical supplies may be announced on Tuesday. The index has been up for three straight weeks and may be due for a pullback. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

Apple stock bounced off its trendline support on Thursday after Bloomberg reported that the company has been developing AI server chips long before the launch of OpenAI's ChatGPT in November 2022. In January this year, Bloomberg's Mark Gurman said, "Apple remains years behind the competition in generative artificial inte ll igen ce (AI)..." . Earlier this week, the company unveiled their new powerful iPad Pro equipped with AI capable M4 processors. The technical specifications of the M4 chips are unknown at this point but it is safe to assume that they can easily outperform the Qualcomm Snapdragon X Elite. AAPL broke out from the descending chart pattern earlier this month with a price target at $198. The 50-day EMA is now rising rapidly and could crossover the 200-day EMA to form a golden cross before the end of this month. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest u

Tesla cleared their first hurdles in China after the company received FSD approval from the Chinese government. Beware though, just days after Elon Musk confirmed Tesla's intent to unveil their robotaxi in August, one of China's largest ride-hailing companies, Didi Chuxing, announced a joint venture with Chinese EV maker GAC Aion to mass produce its own Level 4 robotaxi, per IOT World Today. Didi acquired Uber China in 2016 and has more than 80 million active users in China. The downtrend of Tesla stock remains intact. TSLA needs to break above the key resistance level at $182.33 soon, or else the stock could pull back to below its 50-day EMA. This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!