NVDA stock price seen a slight rise when the company reported to have an increased revenue
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.
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.
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