Will NVIDIA Stock Price Slip Further Towards $410?

NVIDIA stock price may slip towards the $410 mark if it leaves the $440 support as suggested by analysts. Meanwhile, NVIDIA share price managed to gain till the $477 mark but failed to sustain and declined on Friday. Nonetheless, there’s a possibility of buyers entering the market during Monday’s trading session. However, for a positive turnaround, it’s crucial that the rate of accumulation is substantial, otherwise, NVDA’s price may continue to decline.

NVDA stock price tried to break out of the $477 mark but failed to sustain and slipped instead. Analysts believe that NVDA shares may slip further on Monday as NVIDIA stock is on sellers’ radar.

NVIDIA stock price was at $454.61 and lost 3.16% of its market capitalization during Friday’s trading session. Trading volume is above average, showing the accumulation rate of sellers yesterday.

NVIDIA Stock Price Looking For Neutrality

NVIDIA stock price slipped yesterday and analysts believe that NVDA may slip further during Monday’s trading session. However, volume change was above average under full influence of sellers. Now, buyers need to come forward for the rescue of NVDA shares. Meanwhile, NVDA stock price is maintaining above 20, 50, 100 and 200-days daily moving averages.

NVIDIA stock price increased by approximately 2.87% in the past week and 1.93% over the course of a month. Over the last three months, NVDA experienced a decrease of 2.41%, but its performance over the past six months showed an impressive gain of about 71.53%. Notably, NVIDIA’s stock saw a remarkable surge of 206.11% year to date.

Technical indicators highlight the downtrend in NVIDIA stock. Relative strength index (RSI) confirms the downtrend momentum of NVDA shares. RSI was at 53 and moving towards neutrality to be oversold. Investors in NVIDIA Corp. (NASDAQ: NVDA) need to wait for any directional change over the daily time frame chart.

Summary

NVIDIA stock price may slip towards the $410 mark if it leaves the $440 support as suggested by analysts. Analysts believe that NVDA shares may slip further on Monday as NVIDIA stock is on sellers’ radar. Now buyers need to come forward for the rescue of NVDA shares. Notably, NVIDIA’s stock saw a remarkable surge of 206.11% year to date. Technical indicators suggest the downside trend of NVIDIA stock. Investors in NVIDIA Corp. need to wait for any directional change over the daily time frame chart.

Technical Levels

Support Levels: $450.00 and $440.10

Resistance Levels: $477.00 and $485.00

Disclaimer

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