- NVDA stock price is currently seeing a strong volatility on the $15 Call in Jan 2023.
- The stock price is currently observing a consolidated trend. Meanwhile, the asset price has seen a loss of 3.75% in the past 24 hours.
Nvidia CFO , Colette Kress has recently highlighted that they have been under shipping the GPU to the gaming industry for quite some time. He also said that the market was flooded by the used GPU for a period due to the crypto haze which is coming to an end.The downtrend in crypto market has also decreased the demand for the GPU. NVIDIA is now starting to refresh their old RTX 30 GPUs with new designs and resuming shipments to stabilize their inventory. The company also assumes that their inventory will be normal in Q4 and start shipping in 2023.
NVDA options is currently seeing a strong volatility in the market. It may be due to the reason that the company inventory is stabilizing. Meanwhile the current market cap of the company is $398.8 Billion with an EPS of 3.73. Various analysts are expecting a strong uptrend in NVDA price.
Bulls Of Nvidia Corporation Are Taking A Rest
The weekly technical chart of the stock price suggests a weak upside momentum. On coming to the daily chart the NVDA price is trading near the value of $159 with a drop of 3.75%. The upside momentum of the asset price can see a halt near $180. Meanwhile a bounceback in the stock price can be seen near $120. The asset price is currently trading above the 50 and 100 Daily Moving Average. They can also act as a support for the asset price in the future.
RSI: RSI of the NVDA stock price is near 53 with a strong negative slope. The overall sentiment of the RSI is bearish.
Conclusion
Nvidia corporation is looking to replenish their inventory as the crypto haze is coming to end. NVDA stock price is currently in a consolidated trend but can move to a new high in the future.
Technical Levels
Major Support:$120
Major Resistance: $180
Source: https://www.thecoinrepublic.com/2022/12/07/nvidia-stock-price-prediction-is-the-end-of-crypto-haze-making-option-traders-betting-big-on-nvda-stock/