Nvidia GTC 2026 Begins: NVDA Levels to Watch & Example Options Trade

0:00We're back with Morning Trade Live in videos, the biggest event of the year kicks off in San Jose today. The closely watched annual developer conference or GTCs, it's called, as expected, to lay out the roadmap for what's next in AI. CEO Denson Huang is set to give a keynote to later this afternoon, Tipi M. Eastern, investors are looking for updates on so-called intelligence factories, AI agents, physical AI, robotics, and inference. There's a lot of focus on NVIDIA's pivot to CPUs following the company's GPU dominance and it comes amid a challenging backdrop for the tech sector with concerns about AI disruption in the software sector which has led to multiple compression and funding, capex, and now the energy shock coming from the Iran War. NVIDIA stock is up about 50% of the last 12 months but has struggled to start the year and came off post-earnings, but analysts do expect the event to be a positive catalyst, truest saying it anticipates management to signal that supply, production, and demand will align to support continued growth in the near-term. Morgan Stanley also reiterating overweight on the stock today as well.

1:02Let's take a look at some of these chip names today. We're all higher across the board here as we get up and running. What is known as the Super Bowl of conferences for NVIDIA are up at 2% right now. AMD is also doing a similar thing. Broadcom is at 10% higher and Intel is winning on the day up over 4% right now. So it's a nice day for chips across the board right now as we have very much got to all the big 7 in the green as well. So we are seeing tech very much back in the drivers seat and that is what is helping. This stock market find its footing for this Monday. So let's trade in video now with Charles Moon, stock strategist at Prosper Trading Academy. Very good morning to you, Charles, happy Monday to you. So just walk us through an example trade for NVIDIA as this event gets underway. Yeah, this is a bit high risk. This is an anticipation that investors are going to flood into the stock. I'm looking for a breakout. The video is actually at resistance up to around 185, 185 half. So looking for short term gratification, looking at the March 23, 190 strike calls right around 210.

2:03The stock is going to be at a dollar. Now I want to keep this tight because obviously things could react very negatively if Wall Street investors don't like what's going to happen at this conference today. But if it does happen to break out, I think this could be a really big mover. I think the upside could be as high as 194 by the end of the week. And again, I think that if it does get into that range, you're going to be pretty darn happy on that breakout. So we'll be targeting around 550 or higher if it does break out about key resistance. But I won't be holding this position past 319 no matter what regardless if we're up or down. Okay. As we said, it's a trade down about to 3% or so I think a year to date. So looking at a nice little bounce here today, let's see what happens this afternoon when Jensen Huang takes the stage when he's got up his leather jacket sleeve. But I thought to the overall market today, obviously we're finding our footing as I mentioned it does look like tech is doing the heavy lifting here. I mean, it's the semikons actors, particularly the memory names, which are helping us take a leg higher right now, all the makes seven in the green.

3:03We've got some of those Bitcoin related plays also helping today is we're seeing a nice bounce in cryptocurrencies, sort of generally just walk us through your thoughts this morning. Yeah, it's it's very sporadic. You know, we're in a yo-yo market, we're up one day, we're down one day, we'll be down and then rally in today, we'll be up and then sell off. So it's been a really hectic market, very volatile. It's surprising how well that the bulls continue to try and flood into the markets, especially with crude screaming towards $100 and the US dollar firming up. You know, this market continues to be resilient. So you got to wonder what is it going to take to really kind of push us lower. I think the the final straw that would break the camel's back would be if if the Fed FOMC actually pivots and starts talking about potential rate hikes, this is where the markets could give very reactionary to the downside, you know, but you know, outside of that, it just seems very resilient. The cues continue to fight to try and remain above the 200A moving average along with

4:06the SPY. So it's just the back and forth yo-yo trading for now. And then we're just going to have to live with it until we finally pick a direction and break out from it. Yeah, we've managed to reclaim that 6700 mark. I know that has been technically important for this market, particularly off the back of coming close to really testing that 200 moving day average last week. So plenty to keep tabs on, particularly within video in the FOMC. Thanks so much for that. As always, Charles Moon, their stock strategist at Prosper Trading Academy.