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Nvidia shares: analysis and potential purchase area - financial expert gives outlook
According to a report from stock3.com, Nvidia stock is in a period of consolidation after experiencing recent declines. The analysis suggests that a potential buying zone is emerging between $459.45-451.60 and the consolidation may end in the near term. A possible continuation of the consolidation could result in a small a-b-c move, with a notional target of $457.96. If the stock reaches this area, it could revisit its all-time high and break out above it. A rise to around USD 630 is considered possible, and even higher prices are possible in the long term. On the other hand, there is a risk of further taxes if...
Nvidia shares: analysis and potential purchase area - financial expert gives outlook
According to a report by stock3.com, Nvidia stock is in a period of consolidation after seeing recent declines. The analysis suggests that a potential buying zone is emerging between $459.45-451.60 and the consolidation may end in the near term.
A possible continuation of the consolidation could result in a small a-b-c move, with a notional target of $457.96. If the stock reaches this area, it could revisit its all-time high and break out above it. A rise to around USD 630 is considered possible, and even higher prices are possible in the long term.
On the other hand, there is a risk of further declines should the value fall below $451.60, with possible targets at $432.19 or even $401.00.
The current state of Nvidia stock shows that it is still on a consolidation path, but there is a prospect that this consolidation will end in the near future.
As a financial professional, it is important to note that this potential development could occur based on various factors, including the overall market environment and company news. Investors should closely follow Nvidia stock performance and consider all relevant information before making trading decisions.
Read the source article at stock3.com