NVIDIA’s (NASDAQ: NVDA) share price has been riding high, driven by strong AI demand and a whopping $3.5 trillion market cap. However, after a 2.81% drop today, the stock is testing a crucial level at $139.56. Can it hold up, or is it time for traders to brace for more volatility?
NVIDIA’s chips are fueling AI advancements everywhere—from research labs to self-driving cars. Recent news of fully booked orders for its Blackwell GPUs has pushed the stock upward, keeping bulls hopeful. But with potential export curbs looming, caution may be wise.
Short-term traders need to watch the $140 level closely. If NVIDIA breaks above it, more gains could follow. Long-term, the AI story remains intact, though surprises could pop up along the way. With AI demand soaring, NVIDIA’s stock could still have room to run.
This post was last modified on Oct 24, 2024, 09:36 BST 09:36