Resistance

Trillion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NVDA stock shows weakness on the daily chart.</a> </li> 
 <li> <span>2</span> <a>Short sellers are trying to pull the price down as the stock price is down by 4.68% in the last trading session.</a> </li> 
</ul> 
<p>Nividia stock price is struggling to survive above the key moving averages as short sellers trying their best to push the stock down. NVDA stock price is currently stuck between the 50 and 100 EMA levels by making a dragonfly dogi candle showing uncertain conditions for the stock.</p> 
<p>NVDA stock is currently trading at the level of $439.38 with an intraday loss of 4.68% which showcases bears trying to overpower the bulls but it is a difficult task for bears right now because the bull does not want to slip the momentum from their grasp so easily.</p> 
<p>NVDA stock is currently trading with an intraday volume of 81.233 million and the average trading volume of the stock is 44.903 Million. The market cap of the company is $1.085 Trillion and the company gave a dividend of 0.04%. The price-to-earnings ratio of the company is 111.25 with the basic EPS $4.18 and a share float of 2.37 Billion.&nbsp;</p> 
<p>The NVDA stock performance has shown weakness in recent times as in the span of 3 months it was down by 7.43%; fell by 3.09% in the month; and by 3.03% this week. However, the overall performance is remarkable as the stock gave a 58.79% return in the 6 months period; a humungous return of 195.86% year to date. Last year, it gave a return of 281.47%. The overall performance throughout the year is excellent, but stock is facing a correction (or stock witnessing profit booking) right now.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img decoding="async" loading="lazy" width="765" height="224" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-536.png" alt="NVIDIA Stock: NVDA Stock Ready to Bounce Back; Targeting $500" class="wp-image-176695" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-536.png 765w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-536-300x88.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-536-750x220.png 750w" sizes="(max-width: 765px) 100vw, 765px">
  <figcaption class="wp-element-caption">
   Source: TipRanks
  </figcaption>
 </figure>
</div> 
<p>According to Wall Street analysts, Nvidia stock may reach the average price target of $649.67 and the high target of $1100 with the lower target of $560. Overall, the analysts are positive about the stock.</p> 
<h2 class="wp-block-heading" id="strong-what-is-the-next-move-for-nvidia-stock-strong"><strong>What is the Next Move for Nvidia stock?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1273" height="577" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-537.png" alt="NVIDIA Stock: NVDA Stock Ready to Bounce Back; Targeting $500" class="wp-image-176697" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-537.png 1273w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-537-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-537-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-537-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-537-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-537-1140x517.png 1140w" sizes="(max-width: 1273px) 100vw, 1273px">
  <figcaption class="wp-element-caption">
   Source: Tradingview
  </figcaption>
 </figure>
</div> 
<p>On the daily time frame, the stock is in the bears’ hold, breaking below the 20 and 50-day EMAs and stuck between the 50 and 100-day EMAs. However, the <a href="https://www.thecoinrepublic.com/2023/10/03/nvidia-stock-defends-400-will-nvda-stock-regain-450-level/" target="_blank" rel="noreferrer noopener">stock price</a> is still above the 100 and 200-day EMAS, showing that buyers are still active.</p> 
<p>MACD curve is above the median line but indicates an ancestral sign. The MACD curve is trading at the level of 2.83 and the single curve is trading at the level of 1.26 showcasing neutrality on the daily chart.</p> 
<p>The RSI curve is currently trading at a level of 46.00 heading downwards, and the 14 SMA line is at the level 53.03 above the RSI curve showcasing weakness in momentum.</p> 
<p>Overall, the technical indicators are showing neutrality in the trend as price is in the no trading zone. The trend will be determinedwhen the price breaks below or above the key EMAs.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p>NVDA stock price is in the no trading zone, showcasing weakness in the momentum. Moreover, the technical indicators are pointing to neutrality in the stock price.</p> 
<p>However, traders and investors should wait for the price breakout above the key EMAs to step into it.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $375.02 and $402.00.</p> 
<p>Resistance Levels: $476.18 and $501.94.</p> 
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4> 
<p>The data and research given in the above article is only for informational and educational purpose. Do not take this information as an investment and trading advice. Trading and investment in the market involve capital risk.</p>

NVIDIA Stock: NVDA Stock Ready to Bounce Back; Targeting $500

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