Impact of Nvidia's Record-Breaking Winning Streak End on Stock Price

Friday, 29 March 2024, 10:32

Nvidia's historic 11-week winning streak has finally come to a halt, triggering speculations of potential price drops below $900. Technical analysis suggests support levels may offer insight into future market movements. Despite recent declines, bullish sentiments prevail with NVDA still showing significant gains year-to-date.
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Impact of Nvidia's Record-Breaking Winning Streak End on Stock Price

Nvidia Stock Winning Streak

New Record Breaks

Saying that Nvidia (NASDAQ: NVDA) was the stock market star of 2024 would be unfair largely due to the fact that the company’s shares have been doing exceedingly well since late 2022.

Longest Winning Streak

Nvidia's 11-week winning streak came to an end with its first red trading week in 2024, raising concerns about potential price crashes.

Technical Analysis Insights

  • Support and resistance levels may signal future market movements.
  • Oscillators and moving averages indicate mixed sentiments in technical analysis.
  • Despite recent declines, Nvidia continues to show significant gains in various time frames.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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