NMS Investment Research

The S&P 500 ran up to an intraday all-time high at 5,447 . 25 on Wednesday, thank s to Apple stock which also made its intraday all-time high at $2 20.20 per share. Apple launched Apple Intelligence on Monday, an AI model that solves users ' everyday problems. Some investors, who got it wrong about Apple's AI strategy, could decid e to get it now . Goldman Sachs raised the ir S&P 500 year-end target on Friday to 5,600, citing an upbeat profit outlook. In our view, the index could reach the 5,600 level as early as mid-July during the Q2 earnings season, followed by a late summer correction. 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 breakdown, below the long-term trendline support, is confirmed after the central bank decided on Wednesday to leave their key interest rate unchanged at 2.5%. Beware that foreign investors continue to sell Thai stocks as the relative strength (RS) between MSCI Thailand and MSCI Emerging Markets (EEM) has now br oken below the key support level at 1.37. Tighten your seat belts because the next stop for the SET index could be at 1,296.76, or a 30% correction level. 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!

Tesla stock sunk 2.44% on Fri day to close at $17 8 . 01 , just above its 50-day EMA  (green line) , after s hareholders voted to reinstate Elon Musk 's $56 billion pay package at Tesla's Annual Shareholder Meeting. Musk told his shareholders , after the announcement of the voting result s, that one day Tesla will sell 100 million EVs annually and his robots w ill power the company to a $30 trillion market cap. All eyes are now focus ed on the unveil ing of his robotaxi s on August 8. The downtrend of Tesla stock remains intact. The stock is retesting its 50-day EMA. If TSLA can s tay above the 50-day EMA, Tesla bull s may try to push the stock higher to retest the $207.25 resistance level. Beware though , the stock could pull back down to retest the trendline support , ~ $140, if the 50-day EMA can't hold. 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. Clic...

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!