NVIDIA Stock Analysis: Price Holds Strong After Q3 2024 Earnings

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.

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!