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NVDA stock price seen a slight rise when the company reported to have an increased revenue - 2
Technical indicators of NVDA are favoring upside move. It is currently trading near the value of $207
Nvidia Corporation (NVDA) is a leading technology company that specializes in designing graphics processing units (GPUs) and artificial intelligence (AI) computing solutions. It was formed in 1993 and they have established themselves as a dominant player in chip making and semi conductor industry. NVDA stock has been a strong performer in recent years, with its share price increasing consistently.
Nvidia’s graphics cards have become the go-to choice for gamers and are used in a wide range of gaming systems, from desktops to laptops to consoles. Nvidia stock price has seen a slight rise when they reported to have an expected revenue of $6.5 Billion. Meanwhile data center revenue including chips has seen an increase of 11% in the intraday session. Wall street believes that NVDA has a strong potential to grow with the onset of AI platforms.
NVDA has been seeing decline in the revenue of Gaming like other companies. Gamers are sending NVDA revenue into a spiral after the Covid. It has a market cap of $517 Billion and may continue to grow in the future also.
Are Bulls Ready To Take Charge Above $250?
The weekly technical chart of the NVDA price suggests a consolidated trend in price. On the daily chart it is trading near the value of $207 with a gain of 0.48% in the intraday session. It is currently near a major support zone which if it breaks may push the price to a new low. The upside momentum of NVDA stock can be seen near $225.Meanwhile a support in the asset price can be observed near $190.It is currently trading above the 50 and 100 Daily Moving Average. There can be a positive crossover which can push the asset price to a new high in the future.
RSI for the NVDA stock price is currently near 53 suggesting its presence in the neutral zone. There is a negative slope in the RSI suggesting a downside trend in price.
Conclusion
Nvidia stock price has seen an increase in revenue but the gaming revenue has observed a decline. NVDA stock price is currently in a consolidated trend and can see a new high in the near future. Various analysts are expecting a strong growth in the future.
Technical Levels
Major Support:$190
Major Resistance:$225
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/02/23/nvidia-stock-price-prediction-will-nvda-stock-price-hit-300-in-2023-analyst-speculate/