We use cookies to offer a better browsing experience, analyze site traffic, personalize content, and serve targeted advertisements. By clicking accept, you consent to our privacy policy & use of cookies. (Privacy Policy)

Nvidia Share Price: Slips 4% As Market Volatility Intensifies

Avatar photo
Lilly Mwogah Fact check, Reviewer
    Summary:
  • Shares of Nvidia (NASDAQ: NVDA) declined by 4.09% to close at $102.83, down from the day’s high of $108.15.

Shares of Nvidia (NASDAQ: NVDA) declined by 4.09% to close at $102.83, down from the day’s high of $108.15. This price action comes with market volatility, sparking investor concerns about the stock’s immediate future.

Key Support and Resistance Levels

The stock fell below $110, a psychological level for many traders, and currently, it hovers around the $104.04 zone, where buying activity has picked up before. However, more substantial support lies at $96.16, a level tested earlier this year. A break below this might signal a more bearish outlook. On the upside, $139.85 remains a key resistance to watch, and any attempts to reclaim this level would likely bring renewed bullish momentum.

Nvidia stock has been volatile for the past few months, weighing down sentiment. Despite its leadership in AI chip production, Nvidia is not immune. Investors are treading cautiously, with many waiting to see how the market will digest macroeconomic news in the coming days.

Nvidia’s Bigger Picture

While Nvidia’s short-term prospects may appear cloudy, long-term investors remain optimistic about its role in AI and data centre markets. However, traders should remain cautious as volatility is likely to continue. For now, Nvidia’s key levels offer important clues about where the stock could be headed next.

Subscribe to our newsletter

I consent to the terms and conditions