What's the short term forecast for nvidia

The short-term forecast for Nvidia (NVDA) is bearish, with several indicators suggesting a potential for further decline: 1. **Recent Performance**: Nvidia's stock experienced a significant drop of 9.53% on September 3, 2024, falling from $119.37 to $108.00. This is a substantial decline that could indicate a strong sell-off. 2. **Net Fund Flow**: The company has seen a net fund outflow of $4.12 billion, which is a substantial amount and could be a sign of investor concern or selling pressure. 3. **Moving Averages**: The stock is currently below its 5-day, 10-day, and 20-day moving averages, which are $119.77, $123.42, and $120.88, respectively. This indicates a bearish trend as the stock is trading below these short-term and medium-term averages. 4. **Analyst Ratings**: Despite the bearish technical indicators, Nvidia has a strong buy consensus rating from analysts, with an average price target of $170.65. This suggests that analysts are not as bearish as the technical indicators might imply. 5. **Market Sentiment**: The sentiment is bearish, with a Fear & Greed Index of 39 (Fear), indicating that investors are fearful and may be selling off assets. This could contribute to further downward pressure on the stock price. 6. **Support and Resistance Levels**: The stock is approaching support levels, with a potential buying opportunity if it tests the support at $107.27. However, if the stock breaks below this level, it could signal further decline. 7. **Prediction**: Based on technical analysis, the stock is expected to fall by approximately 7.12% over the next three months. This is a conservative estimate, and actual performance could vary. In conclusion, while analyst expectations are more positive, the short-term technical indicators for Nvidia's stock suggest a bearish outlook. Investors should closely monitor the stock's performance against key moving averages and support levels to gauge potential short-term movements.