Re-test of ~$97 support?

1 Tem

Based on the support & resistance lines, I have the following price targets for NVDA #NVIDIA Corporation.

- The bullish price targets are: 140.76.
- The bearish price targets are: 97.39 > 96.76 > 92.21.

* The price is trading between support and resistance lines, often referred to as a "no trading zone".

5 Ağu

Not

My bearish price targets for NVDA #NVIDIA are reached: 97.39 > 96.76 > 92.21. We pulled back -35% from the top. This could be a healthy pullback.

Next is to find out if we can hold this support area:
- If we hold support, we can go for new all time highs. If you think so, support levels can be a good entry point for a LONG position.
- If we don't hold support, the next support level is sitting around ~$50.

Also, if we look at the fundamentals (//penketrading.com/symbols/NVDA.NASDAQ/) the company is growing fast, but even with this growth and my 10 year intrinsic value calculation the value is between $12.48 - $38.27 per share.

Just my analysis, not financial advice. What do you think?

Best regards,
Penke