Nvidia’s Price Trajectory Projection
An expert in stock trading has provided insights into Nvidia’s (NASDAQ: NVDA) potential price movements in the upcoming months, forecasting a trajectory toward the $140 threshold. The analysis indicates that recent market trends and behaviors suggest an optimistic outlook for the semiconductor giant.
Nvidia’s Recent Market Performance
The recent market activities of Nvidia have aligned with expected patterns, displaying a notable rebound from a crucial support level at $94. The ability to conclude a trading session with a 4% gain on August 12 signifies positive market behavior in line with projections.
- Analyst Peter DiCarlo anticipates a temporary high between $115 and $120 in the upcoming week.
- Predicts a potential pullback to around $95 following the temporary peak.
Nvidia to Form Lower Highs
DiCarlo’s assessment emphasizes Nvidia’s current position under the market bias indicator, indicating a downward trend. This pattern suggests that Nvidia’s stock is likely to see upward movements, form lower peaks, and undergo subsequent declines, repeating this cycle until a reversal materializes.
- Points out the sustained uptrend of Nvidia over a longer timeframe despite the current market contraction phase.
- Marked recent highs and lows to analyze the market structure using Fibonacci retracement.
Nvidia’s Medium-Term Prospects
DiCarlo expresses optimism regarding Nvidia’s medium-term outlook, projecting potential trading levels between $128 and $140 in the coming months. While emphasizing positive prospects, he advises caution about possible short-term setbacks, highlighting the importance of strategic positioning for traders.
“I still think that we’re going to see Nvidia back in the next couple of months, trading between $128, $132, and $140, but I wouldn’t put us past us in the short term to make one more rejection back down to $92,” he said.
Nvidia’s Entry Points
DiCarlo identifies optimal entry points for Nvidia between 0.786 and 0.826, where institutional buying is expected to occur. He anticipates a rapid surge in price when the chipmaker reaches these levels, followed by potential rejections and testing of support levels before resuming an upward trajectory.
- Foresees a possible retesting of support levels before a confirmed uptrend continues.
- Shares his short-term trading strategy, refraining from opening put positions until Nvidia reaches specified upper limits.
Hot Take
As a cryptocurrency enthusiast, staying informed about potential market movements is crucial for making informed decisions in your trading activities. Keep track of expert analysis and projections to align your strategies with evolving market trends and seize opportunities for growth and profitability.
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