📺 Watch the full video here:
Happy December — hope you had a wonderful Thanksgiving. We’re back to the action of the markets, and in case you didn’t hear, ChatGPT just turned three years old over the long weekend. Can you believe that?
I was a little late to bringing AI into my life, but now I’m always going to push the boundary. And I’ll admit… Gemini and I haven’t totally clicked yet, but I’m trying to be nicer to her. So today I actually let Gemini help decide which stocks we’re going to look at — specifically in the AI hardware and chip makers space.
Because lately, the conversations around this sector — especially from Jensen Huang and everyone in that ecosystem — have been fascinating. And what I’ve been noticing is that stocks in similar industries often share similar turning points in time. You can spot it right on the bottom axis of your charts.
🔍 Highlights
1️⃣ Nvidia (NVDA)
Nvidia has had a pullback in motion since the October 29 high. It took out the October 22 low, but hasn’t produced a closing break below that level for two days in a row or more. Combined with RSI Power Zones™ holding the Bull Support Zone, that tells me this correction may not have a lot more time left.
I also applied the simplest trend assessment tool I teach in Lost Forecasting, and the value for December 1 is 180.80 — meaning NVDA would need to climb above that level to suggest the trend might be shifting higher. Notice that number is floating in “midair” on the chart. It’s not a previous traded price level. It comes straight from the tool.
2️⃣ Advanced Micro Devices (AMD)
Back on November 12, I shared a forecast for AMD to reach the 342.50 area by December 30. That forecast obviously did not unfold.
And here’s the thing with Lost Forecasting — I teach you how to monitor when a forecast is missed and how to trade around that.
What has unfolded is a 50% retracement of the move from September 8 → October 29. And what’s familiar about October 29? Yep — that was also Nvidia’s high. Stocks in similar sectors often turn at the same times.
Now we’re seeing a recovery. In the short term, I’m watching the 230–315 area. If AMD reaches that zone and stalls — especially if RSI runs into Bear Resistance on the daily chart — that could mean another move lower. Otherwise, it can keep going.
3️⃣ Taiwan Semiconductor (TSM)
TSM also retraced half of its prior advance — this time from August 20 → October 16. October 29 didn’t matter here; instead, we saw more of a double top between October 16 and November 3.
From what I’m seeing, TSM has room to keep moving up. But I want to see a closing break above the November 20 high before calling for continuation toward that 310 area.
4️⃣ Broadcom (AVGO)
AVGO made new highs, which means we now have a clear platform of support shaping the uptrend. The main level I’m watching is the November 14 swing low — losing that would be the first sign that the advance off the April 7 low is weakening.
Right now, we’ve got a little double bottom between November 14 and November 21, a push higher, and a pullback. As long as AVGO stays above the November 20 high — which has now flipped from resistance to potential support — it may find intraday footing and continue upward.
So that’s my look at AI hardware and chip makers — and a good reminder that stocks in similar industries often pivot around the same points in time.
And again Happy third birthday to ChatGPT! I really do love bringing AI into my life and business, and I’m working on weaving it more into trading too. I’ll be sharing more of that with all of you across our clubs and courses.
If you found value in this video — a useful look at chip makers, a return to basics after the long weekend, or insights to help guide your trading — go ahead and hit the Like button.
~Hima
PS: I’m coming in HOT on the coaching front this December, with three sessions dedicated to Forecasting alone! Be sure to check out the events calendar and pencil in the dates and times for the sessions that apply to you – registration links will be shared via email!
Leave a Reply