Nvidia(US:NVDA) Finbold·2024-10-11 11:17Core Viewpoint - Nvidia's recent stock performance has raised concerns among analysts, with trading behavior described as "casino-like" and a significant increase in short-selling activity [2][4][6]. Trading Activity - On October 10, Nvidia's stock closed at $134.81, up 1.63%, nearing its 52-week high, but trading volume was down nearly 15% compared to its 20-day average [1][2]. - The heavy call volume and speculative trading have led to questions about the sustainability of the recent rally, indicating a disconnect from the company's fundamental outlook [3][6]. - Short-sale volume reached 82.9 million shares on October 10, accounting for nearly a third of total shares traded that day, reflecting increased bearish sentiment among investors [4][5]. Market Sentiment - Nvidia has contributed nearly 24% of the Bloomberg 500's returns in 2024, indicating its significant role in driving broader market gains [7]. - The stock has traded within a range of $113.22 to $135.00 over the past month, with identified support levels between $121.90 and $122.83, and resistance between $134.82 and $135.59 [7]. - Despite the stock's alignment with broader market trends, increased speculative activity may render it vulnerable to sudden reversals, suggesting a fragile balance in investor sentiment [8].