The Long Investor

$NVDA

Added 2025-05-08 11:00:01 +0000 UTC

"The Trump administration intends to rescind and revise a policy from the Biden era that limited international sales of advanced artificial intelligence chips, media outlets reported, citing a US Commerce Department spokesperson.

The regulation sought to, among other things, restrict China's ability to obtain cutting-edge semiconductors by categorizing nations into tiers, according to the reports.

The Commerce Department spokesperson reportedly said the existing framework was too cumbersome and bureaucratic, adding that a simpler rule would replace it to support innovation while maintaining US dominance in AI."

This announcement has helped $NVDA to move higher and keep on track with testing its 50 WMA, which sits between its 0.5 - 0.618 Fib range at $124.

$NVDA also has the added benefit of having not reported yet either so the price action can continue to drift higher until this happens on the 28th of May.

This potential Wave B test will be VERY important for $NVDA and the market, a rejection here will be enough to bring the market down in my opinion....and we can see how $GOOG has struggled from $AAPL's announcement yesterday too and brings its own structure now under pressure.

For now, let's continue to wait for the test, the plan has not changed here.