Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NVDA stock price persists in rising toward $500 in upcoming sessions.</a> </li> 
 <li> <span>2</span> <a>Buyers are continuing to accumulate and have been gaining momentum over the past months.</a> </li> 
</ul> 
<p>NVIDIA Corporation (NVDA stock) price shows bullishness and persists in rising, surpassing the barriers decisively. Moreover, the chart shows that the price has overtaken the resistance mark of $450 and is gaining momentum. The price action tells that NVDA stock has reached the overbought zone and is trading beyond the significant moving averages showing massive buying traction and initiating fresh buying activity in the past sessions. Furthermore, the uptrend will be extended towards the trajectory of $470, followed by $500 in the upcoming sessions.&nbsp;</p> 
<p>In the past sessions, NVDA stock noted a gap-up move and continued to rise without filling it, trapping sellers, which resulted in a short covering move. The stock has surged by over 200% since the start of 2023. Moreover, the positive divergence led to a rise in the stock, and is still gaining new highs.</p> 
<p>NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment comprises product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.&nbsp;</p> 
<p>The Tegra Processor segment integrates an entire computer onto a single chip and incorporates GPUs and multi-core CPUs to drive supercomputing for autonomous robots, drones, and cars, as well as for consoles and mobile gaming and entertainment devices.&nbsp;</p> 
<p>The All Other segment refers to the stock-based compensation expense, corporate infrastructure and support costs, acquisition-related costs, legal settlement costs, and other non-recurring charges.&nbsp;</p> 
<p>At press time, NVDA stock price is trading at $465.07 with an intraday drop of 0.48%, showing a neutral move in yesterday’s session. Moreover, the trading volume remained at 23.928 Million, and the market cap is $1.149 Trillion. Analysts maintained a strong buy and outperform rating with a yearly price target of $500.86.</p> 
<h2 class="wp-block-heading" id="strong-nvda-stock-price-action-on-daily-charts-strong"><strong>NVDA Stock Price Action On Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/xBEtl1P2ZQFuVCj3zWwguWdB1iF8VnQF0BcO7KW8yQIOEQmIJJK2Y8w3Ke0wNrRbSDYP4i8vd_wrwHqoL3fx-0HG4C5qSyw3hCt6KQ0--7FCzPvRniigkcLEUey7tr9GWJaWXnSI-YvXLfxDb0EzQg" alt="NVIDIA Corporation (NASDAQ: NVDA) Stock Accumulates Toward $500"> 
  <figcaption class="wp-element-caption">
    Source: NVDA Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, NVDA stock price persists in rising and staying in the bullish territory spreading the rally beyond the barriers. In the past months, a breakout of the rounding bottom pattern was noted on the charts. Afterward, the price did not look back and continued the rally.</p> 
<p>As per the Fib extension tool, NVDA <a href="https://www.thecoinrepublic.com/2023/08/02/cxai-stock-price-analysis-cxapp-share-breaking-barrier/" target="_blank" rel="noopener noreferrer nofollow">stock price </a>is trading in the overbought zone. Its upcoming targets are $485, followed by $500. Moreover, the price trades on the verge of the upper bollinger band, switching the gains upwards.</p> 
<h2 class="wp-block-heading" id="strong-short-term-charts-indicate-a-pause-strong"><strong>Short Term Charts Indicate A Pause</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/mdAylsSRaWzMI5S9GGwwxMqrYnj_K3QeFUKy4cwEiOuTeQ2xtzNzpJXiyCGltB6tw4DgH1eSXG3ZUZU7oFNZCgBqc-5etkO6GGVufPviOPurniqoEQlpTB9HPDyTutwsDPf0gFpsm_z_a9BxBrPwCA" alt="NVIDIA Corporation (NASDAQ: NVDA) Stock Accumulates Toward $500"> 
  <figcaption class="wp-element-caption">
    Source: NVDA Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the 4-hour charts, NVDA stock price showed a massive rally in the past months and showed buyers’ dominance.</p> 
<p>The RSI curve slipped below neutrality, showed a negative crossover, and indicated that profit booking arose in the last trading sessions.</p> 
<p>The MACD indicator produced a bearish crossover, and red bars on the histogram show a negative outlook on the charts.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>NVIDIA Corporation (NVDA) stock price stayed in the bull trajectory and persisted in the uptrend for the past months. Moreover, the buyers have attained momentum and are looking to catch the spot of $500 in the upcoming sessions.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels:</strong></h5> 
<p>Support Levels: $450 and $435</p> 
<p>Resistance Levels:$470 and $500</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

NVIDIA Corporation (NASDAQ: NVDA) Stock Accumulates Toward $500

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Thecoinrepublic.com

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