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- 1 NVDA stock price has seen a good week as the stock price has rally of 13%
- 2 Technical indicators of NVDA are favoring a consolidation in price. It is currently near $257
NVIDIA has been on the tongue of every investor since the AI revolution began. It is a California-based technology company that has brought revolution in the AI industry.With its powerful graphics processing units (GPUs) and cutting-edge software platforms, NVIDIA has become a leader in the AI industry.NVIDIA is poised to lead the AI revolution as it has a strong dominance in the GPU market.NVIDIA’s GPUs are widely used in AI applications, as they provide superior performance and computational power compared to traditional CPUs. This has made them the go-to choice for training and inference in deep learning models, which form the backbone of many AI systems. NVIDIA has invested a lot in the research of AI and its development. They have developed a strong tech in NLP and computer vision which has a huge impact in the future of AI. NVIDIA has developed a range of software platforms which can help the developers to deploy AI applications. These platforms, such as CUDA and TensorRT, provide a unified framework for building and optimizing AI models, which can significantly reduce development time and costs.
NVDA has a market cap of $641.6 Billion with a positive EPS. Various analysts are expecting strong growth in the future.
NVDA Bulls Are Looking For A Push
The weekly technical chart of NVIDIA suggests a weak upside trend in price. It has been forming an upside trend line on the daily chart. NVDA stock price is currently trading near the value of $257 with a small gain in the intraday session. Resistance of the NVDA stock price can be seen near the value of $300. Meanwhile the support of the asset price can be seen near $225. It is currently trading above the 50 and 100 Daily Moving Average. There can be a positive crossover which can push the asset price to a new high.
RSI of the NVDA is currently near 68 suggesting its presence in the overbought zone. There is a positive slope suggesting a weak upside momentum in the price.
Conclusion
Nvidia is currently leading the AI revolution and may see a strong growth in the future. Various analysts are expecting a strong growth in the NVDA stock price.
Technical Levels
Major Support:$225
Major Resistance:$300
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
