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Nvidia’s $340 Billion Rout Drags Stock Below Key Technical Level
Nvidia's stock has lost over $340 billion in value during a four-day slide due to concerns over growth, competition, and rising U.S. Treasury yields, analysts say.
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Nvidia closed below a key technical level for the first time since May, while investors continue to abandon the leading manufacturer of artificial intelligence chips. Nvidia's share fell 2 percent, to $170.74 on Tuesday, its fourth consecutive negative session, placing it below its 50-day mobile average of $171.06. Breaking below this level, so watched, is considered a negative sign of short-term impulse trends. “This shows how the momentum has …
Nvidia Stock Price Forecast as Wall Street Pro Sees a $5 Trillion Valuation
Key Insights: Dan Ives, a top Wall Street analyst, believes the Nvidia stock price will hit $204. He cited the strong market opportunity for AI, hitting a $500 billion in revenue. Technical analysis shows that it may need to flip $200. NVIDIA’s stock price has pulled back and plunged by over 7% from the year-to-date high amid concerns about its growth and valuation. It has erased over $300 billion in value in this period. Still, Dan Ives, a pop…
Nvidia stock closes below key support $171 for the first time since May as AI trade cools
Nvidia’s stock just plunged below a line traders have been glued to for months. On Tuesday, the world’s largest chip company closed at $167.22, dropping through its 50-day moving average of $171.02, a level it hadn’t broken since May. The plunge came during a brutal four-day losing streak, cutting N...
Nvidia, a major U.S. manufacturer of semiconductors for artificial intelligence (AI), saw its stock price fall for the fourth consecutive day on the U.S. stock market on the 2nd, dropping 2% to $170.74, and falling below its 50-day moving average ($171.06), a key technical level. A move below this level is seen as a sign of weak short-term momentum.
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