Stocks This Week: Buy Grinder And NVIDIA

Photo by Spencer Platt/Getty Images

The overall market is likely to fall in this post-OPEX week. The average low in any year is October 27th, and that date is coming. Use this week to add to long holdings. It has been estimated that 60% of all S&P profits have been generated in the fourth quarter of any year.

Grinder runs social network and dating application for the lesbian, gay, bisexual, transgender, and queer (LGBTQ) communities. The stock has traced out a rectangle formation in the $10-$13 range. Rectangles have proven to be very reliable technical formations, especially rectangular lows. Note that the monthly cycle points up into yearend. The $16-$17 area is a target.

Daily Grinder Chart

An upside breakout is coming.

Monthly Grinder Cycle

The cycle does not peak until yearend.

NVIDIA SPDR Dow Jones Industrial Average ETF Trust is due to resume its uptrend. Over the last 25 years, the stock has risen 76% of the time in the month of November. From October 22nd to yearend, the shares have appreciated by the same amount. This is the fifth highest percentage in the S&P 100. NVIDIA has the highest expected return, almost 16%, of any of the constituents in this index. This stock is rated number one for relative strength. The shares may not be as strong as they were earlier in the year, but NVIDIA is likely to be a leader into yearend. The $160 area is a reasonable objective.

NVDA Daily, Weekly, Monthly

The weekly strip is a sign of technical strength.

NVDA Annual Cycle

NVDA points up into yearend.

One Community. Many Voices. Create a free account to share your thoughts.

Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.

In order to do so, please follow the posting rules in our site's Terms of Service. We've summarized some of those key rules below. Simply put, keep it civil.

Your post will be rejected if we notice that it seems to contain:

User accounts will be blocked if we notice or believe that users are engaged in:

So, how can you be a power user?

Thanks for reading our community guidelines. Please read the full list of posting rules found in our site's Terms of Service.