(USNAS100) Nvidia Hits $3 Trillion, Valuation Concerns PersistTechnical Analysis
The price has risen approximately 1.90%, reaching the final resistance level mentioned in our previous analysis, around 600 points.
To achieve another all-time high, the price must break through 19,100 and stabilize above this level to continue the bullish trend towards 19,450. Otherwise, the price will fluctuate between 19,100 and 18,940 until a decisive break occurs.
Bullish Scenario: For the bullish trend to continue, the price needs to break above 19,100, with potential targets of 19,250 and 19,450.
Bearish Scenario: Stabilization below 19,100 would indicate a move towards 18,940. A further break below 18,940, confirmed by closing at least a 1-hour candle, would signal a downtrend towards 18,800.
Pivot Line: 19100
Resistance Levels: 19200, 19300, 19450
Support Levels: 18940, 18820, 18710
Today's range is expected to be between the support at 18930 and the resistance at 19450.
Previous idea:
Nvidia Reaches $3 Trillion Market Cap, But Valuation Concerns Persist
Nvidia Corp., a favorite on Wall Street, achieved a significant milestone on Wednesday, surpassing a $3 trillion market capitalization for the first time and briefly exceeding Apple's valuation. However, the stock's high price has reignited debates about its true value.
What Happened: Aswath Damodaran, a professor at New York University Stern School of Business and known as Wall Street’s "Dean of Valuation," believes that Nvidia’s intrinsic value does not justify its current price tag.
