(USNAS100) Nvidia Hits $3 Trillion, Valuation Concerns Persist
Updated
Technical Analysis
The price has risen approximately 1.90%, reaching the final resistance level mentioned in our previous analysis, around 600 points.
To achieve another all-time high, the price must break through 19,100 and stabilize above this level to continue the bullish trend towards 19,450. Otherwise, the price will fluctuate between 19,100 and 18,940 until a decisive break occurs.
The price has risen approximately 1.90%, reaching the final resistance level mentioned in our previous analysis, around 600 points.
To achieve another all-time high, the price must break through 19,100 and stabilize above this level to continue the bullish trend towards 19,450. Otherwise, the price will fluctuate between 19,100 and 18,940 until a decisive break occurs.
- Bullish Scenario: For the bullish trend to continue, the price needs to break above 19,100, with potential targets of 19,250 and 19,450.
- Bearish Scenario: Stabilization below 19,100 would indicate a move towards 18,940. A further break below 18,940, confirmed by closing at least a 1-hour candle, would signal a downtrend towards 18,800.
Pivot Line: 19100
Resistance Levels: 19200, 19300, 19450
Support Levels: 18940, 18820, 18710Today's range is expected to be between the support at 18930 and the resistance at 19450.
Previous idea:Nvidia Reaches $3 Trillion Market Cap, But Valuation Concerns Persist
Nvidia Corp., a favorite on Wall Street, achieved a significant milestone on Wednesday, surpassing a $3 trillion market capitalization for the first time and briefly exceeding Apple's valuation. However, the stock's high price has reignited debates about its true value. - What Happened: Aswath Damodaran, a professor at New York University Stern School of Business and known as Wall Street’s "Dean of Valuation," believes that Nvidia’s intrinsic value does not justify its current price tag.
Note
the price did it their retest to their support line which is 18930 and reversed, so for this week it is possible to get a new all-time high around 19430 due to the CPI
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