The Technical Breather Analyst believes that buying NVIDIA or Micron now is like rushing out of the storm shelter because the monsoon rain stopped for 5 minutes.
The Logic: Overnight action seems like it is a technical rebound. The shorts are covering their positions and algorithms are taking a quick breather.
The real truth does not materialised until Micron drops its highly anticipated earnings report on September 30.
If Micron hints that the AI storage supercycle is cooling down, this bounce will evaporate.
My Take: I prefer to dollar cost average Micron as it has exponential growth ahead.
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- AaronJeΒ·09-17TOPWaiting for a perfect bottom is a fake dilemma too. On both NVDA and MU, rebounds on lighter volume with RSI still weak usually fade fast β earnings matters more than one green bounce1Report
- EdwardHughesΒ·09-17TOPNVDA here still looks riskier than cheap to me, but MU has the cleaner setup. HBM and DDR5 supply tightness matters more than legacy DRAM noise into earnings1Report