Chip

Bank AI

Resistance

<ul class="list-ic vertical"> 
 <li> 1 <a>NVDA stock price plunged yesterday along with other Chip stocks and reports claim bad weather as Chip stock crisis is imminent.&nbsp;</a> </li> 
 <li> 2 <a>Other Chip stocks like Qualcomm (NASDAQ: QCOM), Texas Instruments (NASDAQ: TXN), Intel (NASDAQ: INTC) and AMD (NASDAQ: AMD) were also down yesterday.</a> </li> 
 <li> 3 <a>The fall in this stock comes amid the global chip shortage.</a> </li> 
</ul> 
NVDA stock price slipped yesterday while other chip stocks also slipped, hinting towards the great chip shortage in the market. Major chip stocks are currently red all over. 
Nvidia (NASDAQ: NVDA) and Qualcomm (NASDAQ: QCOM) slipped yesterday around 4%. Texas Instruments (NASDAQ: TXN) declined over 4%, and Intel (NASDAQ: INTC) has slumped almost 5%. Meanwhile, the most affected one is AMD (NASDAQ: AMD), down over 5% during Wednesday’s tough trading session. 
The first report is from Bank of America, which states that upward potential for AMD and Intel in the remaining year 2023 is anticipated to be “limited.” 
Geo-political friction is affecting sales of the two companies. Additionally, AMD is facing tough times regarding the challenges in its console and embedded sales. Nevertheless, the wait is of MI300 and its performance, and also this could turn around the situation for AMD. 
A worrisome report from Texas Instruments was highlighted. Texas Instruments, one of the key players in the chip industry, specified that they experienced a drop in demand from the industrial sector for its products. The prediction for the coming quarter was discouraging – analysts and investors are questioning the health of the sem-conductor market.&nbsp; 
Essentially, the supply of chips is falling massively short against the steadily rising demand given the varied and highly critical nature of sectors that demand this product. 
<h2 class="wp-block-heading" id="strong-which-among-the-chip-stocks-is-the-best-stock-to-buy-right-now-strong">Which Among the Chip Stocks is The Best Stock To Buy Right Now?</h2> 
According to Wall Street, INTC stock can be marked as having the least potential for a rise. This stock is rated as “Hold”, offering an estimated 11.32% increase based on its average price target of $36.67.&nbsp;&nbsp; 
On the other hand, NVDA stock is regarded as having the highest potential for gains. With a ‘Strong Buy’ rating, its average price target of $645.53 suggests a substantial upside potential of 53.8%. 
<h2 class="wp-block-heading" id="strong-here-s-why-nvda-stock-price-is-a-best-buy-strong">Here’s Why NVDA Stock Price is a Best Buy</h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" loading="lazy" width="1539" height="893" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-763.png" alt="NVIDIA Corp: NVDA Stock Price Plunges, Chip Stock Crisis Report&nbsp;&nbsp;" class="wp-image-178272" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-763.png 1539w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-763-300x174.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-763-1024x594.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-763-768x446.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-763-1536x891.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-763-750x435.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-763-1140x661.png 1140w" sizes="(max-width: 1539px) 100vw, 1539px">
 <figcaption class="wp-element-caption">
 Source: NASDAQ: NVDA by <a href="https://www.tradingview.com/x/bKxZ5RYk/">TradingView</a>
 </figcaption>
 </figure>
</div> 
NVDA stock price was at $417.79 and lost 4.31% of its market capitalization during Wednesday’s trading session. Trading volume (39.838 Million) was below average (50.283 Million) suggesting there was strong seller presence yesterday. Buyers need to accumulate in order to push NVDA stock price upwards. 
NVDA stock price has been consolidating inside a horizontal range-bound area over the daily time frame chart. NVIDIA stock price has been inside the price range of $410 and $477. In the pre market session NVDA stock price fell by 1.75% to $410.46. 
This shows that something big is coming. NVIDIA stock price was trying to sustain at 20, 50 and 100-days DMAs to remain above its 200-day daily moving average. 
NVDA stock price slipped by 1.91% in a week while it gained 0.45% over a month. Moreover, NVIDIA stock price slipped around 10.19% in the last three months but gained 53.46% in the last six months. Year to date, NVDA share price surged by 181.32%, 
Technical indicators highlight the downtrend of NVIDIA stock. Relative strength index (RSI) confirms the downward momentum of NVDA. RSI was at 41 and is heading towards the oversold territory. Investors in NVIDIA Corporation (NASDAQ: NVDA) need to wait for any directional change over the daily time frame chart. 
<h4 class="wp-block-heading">Summary</h4> 
<a href="https://www.thecoinrepublic.com/2023/10/25/fubotv-stock-at-a-make-or-break-level-who-will-dominate/" target="_blank" rel="noreferrer noopener">NVDA stock price</a> slipped yesterday and other chip stocks have also slipped, amid a global chip shortage. NVDA stock is regarded as having the highest potential for gains. In addition, NVDA share price surged by 181.32% year to date. 
<h4 class="wp-block-heading">Technical Levels</h4> 
Support Levels: $411.85 and $405.00 
Resistance Levels: $440.55 and $445.00 
<h5 class="wp-block-heading">Disclaimer</h5> 
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp; &nbsp;

NVIDIA Corp: NVDA Stock Price Plunges, Chip Stock Crisis Report

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