Nvidia's (NVDA) Stock Projections: Trading Insights from Expert Analyst

Tuesday, 13 August 2024, 15:05

A stock trading expert, Peter DiCarlo, has analyzed Nvidia's (NASDAQ: NVDA) price trajectory, projecting its potential rise towards $140 in the coming months. He highlights a recent bounce off a key support level at $94, suggesting an imminent temporary high between $115 and $120 before possibly retreating to around $95. Although the broader trend points to a sustained uptrend, short-term pullbacks may occur, necessitating strategic trading approaches for investors. Conclusion: Despite potential short-term challenges, Nvidia remains a strong long-term contender in the market.
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Nvidia's (NVDA) Stock Projections: Trading Insights from Expert Analyst

Nvidia's Price Trajectory Towards $140

A stock trading expert has outlined Nvidia's (NASDAQ: NVDA) anticipated price movements, projecting its path to around $140 in the coming months.

Market Movements

Analyst Peter DiCarlo pointed out that Nvidia's recent market behavior reflects expected trends, having bounced off a significant support level at $94.

  • Short-Term Projections: DiCarlo suggests a temporary rise to between $115 and $120, followed by a potential sell-off back to $95.
  • Market Sentiment: The stock shows a downtrend bias with possible lower highs until a market reversal occurs.

Long-Term Outlook

Despite the current contraction phase, DiCarlo remains optimistic about Nvidia's medium-term prospects.

  1. He forecasts trading between $128 and $140 in upcoming months.
  2. However, he cautions about potential rejections down to $92.
  3. The expert recommends remaining vigilant and strategic in trading decisions.

Optimal Entry Points

DiCarlo has identified the smart money level between 0.786 and 0.826 as ideal entry points for Nvidia's stock.

Conclusion

In summary, while Nvidia's future price movements exhibit strong potential, traders should be prepared for short-term volatility.


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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