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- NVDA Stock price has fallen around 42% in the past 24 years. They have beaten the third quarter expectation
- Technical indicators of Nvidia are favoring a weak upside trend for upcoming days.
NVIDIA corps designs and manufactures computer graphics card, chips and related software.The company was founded by Jen Hsun Huang, Chris A. Malachowsky, and Curtis R. Priem in April 1993. The company has various segments including GPU, Tegra processors and others. Meanwhile Amazon is also looking to enter in the chip fray market. This can disrupt the chip industry in the near future. NVDA has been seeing a strong growth and can continue to do the same.
Nvidia stock has a market cap of $400Billion with a 52 week high of $324.The asset price is till far away to reach the high. The stock has a PE ratio of 45 and an EPS of 3.73. This has benefitted the investors from a long term and can see the same in near future.
Bulls Of NVDA Stock Price Are Gearing Up
The weekly technical chart of Nvidia stock price suggests a consolidated trend in price. On coming to the daily chart the coin price has seen a drop of more than 1.51% and is currently trading near $168. The asset price is currently trading above the 50 and 100 Daily Moving Average. It can see a positive crossover in the future which can push the price to a new high. The upside momentum of asset price can see a halt near $200. Meanwhile a bounceback can be expected near $150.
RSI:The rsi of the NVDA stock price is near 63 suggesting its presence in the overbought zone. There is a small negative slope in the RSI suggesting a downside trend in price.
Conclusion
NVDA stock has beaten the expectation of wall street in the third quarter. Amazon is also looking to enter the chip industry which can disrupt the industry. NVDA stock price is currently in a downside trend but can see a new high in the future.
Technical Levels
Major Support:$150
Major Resistance: $200
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
