NVIDIA Corporation (NVDA: NASDAQ)

Nvidia’s shares (NVDA) were poised to reach a new high following Goldman Sachs’ decision to raise its price target for the chipmaker’s stock. The adjustment is based on the anticipation of a significant earnings boost driven by the ongoing artificial intelligence (AI) boom.

In premarket trading, the stock experienced a 3.4% increase, reaching $683.80. This upward movement suggested a potential addition of about $55 billion to Nvidia’s market capitalization, bringing it to approximately $1.63 trillion as of the previous Friday’s close.

Goldman Sachs analysts elevated the price target for Nvidia to $800, ranking it as the third-highest among U.S. analysts covering the stock. This new target implies a 21% upside from the current levels, highlighting the optimistic outlook for Nvidia’s future performance in the AI-driven market.

Tesla, Inc. (TSLA: NASDAQ)

As of premarket trading on Monday, Tesla’s stock was 1.4% lower. Nasdaq Composite futures showed a slight decline of 0.1%. Over the past month, Tesla shares have experienced a 21.9% decrease, contrasting with the 4.1% rise in the S&P 500 and the 7.6% gain in the Nasdaq Composite during the same period.

Tesla’s current trading price is well below its 52-week high of $299.29, reached in the previous summer.

The analysis suggests that as long as the $180 support level is maintained, there could be a potential upward push in the coming weeks, with a target around $220. The bearish technical indicators lost momentum last week, and there are signs of a turnaround.

For potential entries, the recommendation is to consider buying either at a test of the $180 support or a breakout above $190. Once the price surpasses $197, the next target is set at $208.

Polkadot (DOTUSDT)

Considering a DOT long position, the analysis reveals a breakthrough of a resistance line dating back to December 25th. However, a new challenge arises as the price approaches the $7.00 to $7.30 resistance zone. The proposed strategy involves entering 50% of the allocation into the trade if DOT successfully regains the $7.00 level. The remaining 50% will be deployed upon a subsequent breakthrough of the $7.30 resistance.

In terms of profit-taking, the first target is set within the range of $8.00 to $8.50, with a secondary target zone spanning $9.60 to $10.00. To mitigate potential losses, a well-defined stop-loss has been established around $6.70. This strategic approach seeks to capitalize on the positive momentum indicated by the breach of the December 25th resistance line while carefully managing risks associated with the approaching $7.00 – $7.30 resistance area. As always, market conditions can be dynamic, and this plan takes into account the need for flexibility in response to evolving price actions.

Chainlink (LINKUSD)

LINK has demonstrated remarkable strength since its breakout from the $8 area in October, consistently ascending in value. If you’re feeling the Fear of Missing out (FOMO) and missed the initial surge, a potential opportunity could arise on the daily chart, indicating the possibility of a retest around the $18 region.

On the weekly chart, LINK exhibits robust performance, setting its sights on the next resistance level at $28, representing a substantial 50% or more upward move. The stability of Bitcoin within its current range is seen as a crucial factor for LINK’s continued upward trajectory without significant disruptions.

This analysis suggests that, despite potential opportunities for those who may have missed the earlier surge, a cautious and strategic approach is warranted. Monitoring the daily and weekly charts, while considering Bitcoin’s stability, can provide valuable insights for those looking to capitalize on LINK’s upward momentum while managing associated risks.