Nvidia's Timeline to $150: Insights from Trading Expert on Recent NVDA Surge
Nvidia's Recent Performance
The stock price of semiconductor giant Nvidia (NASDAQ: NVDA) has seen a significant rebound, reclaiming the $130 mark following a strong 15% rally over the past week.
Expert Insights on NVDA's Potential
Trading expert Peter DiCarlo believes that Nvidia is on a path toward $150 driven by bullish market indicators. His analysis highlights a potential repeat of past performance, as NVDA previously rallied 49% within 49 days during a similar setup.
- Current Stock Movement: NVDA closed at $130, gaining over 4% within a day.
- Market Bias: Observing the weekly market bias suggests a bullish trend ahead.
- Fibonacci Levels: NVDA is trading within the 0.618 to 0.786 golden pocket range, conducive to institutional buying.
Potential Price Targets and Risks
- DiCarlo projects a possibility of reaching $150 by September if positive momentum persists.
- He warns of possible pullbacks and suggests cautious trading ahead of earnings.
Overall, Nvidia's trajectory remains highly influenced by its upcoming earnings report, with many analysts predicting it will exceed expectations. Investors should stay alert to market shifts that may impact NVDA's performance.
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.