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NVIDIA Stock Analysis: Price Holds Strong After Q3 2024 Earnings

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Lilly Mwogah Fact check, Reviewer
    Summary:
  • NVIDIA stock analysis following Q3 2024 earnings. Explore key support and resistance levels, AI-driven growth, and what’s next for NVDA.

NVIDIA (NASDAQ: NVDA) remains a focal point in the stock market following its Q3 2024 earnings release. The stock is currently trading at $140.52, showcasing resilience amidst recent market volatility.

Nvidia’s Key Technical Levels

  • Current Price: $140.52 (-0.72%)
  • Resistance Levels:
    • $145.00: Near-term resistance, tested but not broken.
    • $150.00: Major psychological barrier.
  • Support Levels:
    • $136.15: Immediate support; a potential pullback zone.
    • $130.03: Strong support, held multiple times over recent months.

NVIDIA Stock Price Chart: Analyzing Key Levels After Strong Q3 2024 Earnings Boost

Q3 2024 Earnings Highlights

  • Revenue: $30 billion, up 122% YoY.
  • EPS: $0.68, estimated to be $0.64.
  • Data Center Growth: Surged due to AI demand, reinforcing NVIDIA’s dominance in AI hardware.

Price Momentum

  • Bullish Indicators:
    • Sustained price above $140.00, signalling strength.
    • Potential to test $145.00 again in the near term.
  • Bearish Risks:
    • A break below $136.15 could trigger a dip toward $130.03.
    • Broader market sentiment remains a potential downside factor.

Outlook: Will NVIDIA’s AI Superpowers Prevail?

NVIDIA’s stock seems to have its cape on, ready to soar above $145.00—if AI keeps flexing its muscles! But like every superhero story, there’s always a plot twist lurking. If broader market woes sneak in, it could push NVDA back to regroup near $136.15.

So, is this the beginning of NVIDIA’s next chapter of AI dominance, or just a cliffhanger before the final showdown? Investors, fasten your seatbelts—this AI adventure is far from over!

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