Power Plays New Ideas: NVDA & ORCL + Trim AMZN
April 4, 2024

By Scott Redler

Today we have two ideas. Before we get to them, we'll take off half of Amazon (AMZN) for Power Plays as it's up premarket. We'll look to ride the rest to all-time highs.

Idea #1

Name: Nvidia

Ticker: NVDA

Price: $889

Needs to Hold: $831 to $876

Price Objective 1: $950 to $1,000

Price Objective 2: N/A

Nvidia (NVDA) is back in consolidation mode. I think it will resolve higher. If it gets back over the $903 area, it can get back to all-time highs, and then some.

Idea #2

Name: Oracle

Ticker: ORCL

Price: $126

Needs to Hold: $117 to $123

Price Objective 1: $132 to $138

Price Objective 2: N/A

Oracle (ORCL) just pulled back to test the earnings gap and had relative strength yesterday. It looks like it's ready to rebound back over the $132 area.

-Scott

Scott Redler Positions Disclosure as of 2024-03-28 1.42.03 PM