Nvidia Stocks: Insights and Predictions for the Next Year
Nvidia Stocks Overview
Nvidia (NASDAQ: NVDA) stocks recently garnered attention following its stellar Q2 earnings report on August 28. This performance triggered a significant wave of market reactions, leading to a decrease of nearly 8% in value. However, a rebound on September 2 saw a modest 1.51% uptick, closing trading at $119.37. Yet, subsequent trading sessions hinted at early declines.
Technical Analysis of Nvidia Stocks
Recent technical assessments of Nvidia stocks reveal a bearish sentiment, with losses pushing prices below key support levels. Currently trading under notable moving averages, the technical indicators suggest a continuation of downward trends.
- Support Zone: Identified at $102.81, reflecting previous price points.
- Relative Strength Index (RSI): Stands at 38, approaching oversold conditions.
Wall Street's Optimistic Outlook
In light of Nvidia's recent results, Wall Street analysts maintain a positive outlook. Institutions like Bank of America express a 'buy' rating, raising price targets to $165. Similarly, Piper Sandler sees the current dip as a buying window with a target of $140.
- Bank of America: $165 price target.
- Piper Sandler: $140 price target.
- Cantor Fitzgerald: $175 price target, citing strong growth potential.
- JPMorgan: Upgraded target from $115 to $155.
Overall, analysts predict a positive trajectory for Nvidia stocks, with an average target of $151.79 signifying potential upside from current levels. Investors may find this a compelling entry point.
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.