Will nvidia go down or go up right now?

**Nvidia's stock is likely to face some volatility but has potential for upward movement.** Here's an analysis based on recent news and technical indicators: 1. **Analyst Price Targets and Market Sentiment**: - Truist raised Nvidia's price target to $140 from $128, indicating a 13% upside from current prices. - Cantor Fitzgerald further raised the price target to $175, suggesting a nearly 39% increase from the closing price of $126.09. 2. **Technical Indicators**: - The 5-day moving average is $124.86, and the 10-day and 20-day moving averages are $126.63 and $124.57, respectively. This indicates a short-term downward trend but with a slight uptick predicted in the near term. - The current RSI is 48.47, which is neither overbought nor oversold. This could imply a lack of momentum but also a potential for stabilization. - The MACD is -3.25, and the KDJ is 14.87. These values suggest bearish momentum but also indicate that the stock may be oversold, which could lead to a rebound. - The stock is currently trading near its support level of $118.83 and its resistance level of $124.84. This proximity to support levels could indicate a potential for a bullish breakout if the support holds. |Ticker|Name|Support Level|Resistance Level|Date|code|market_code| |---|---|---|---|---|---|---| |NVDA.O|Nvidia|118.8300|124.8400|20240701|NVDA|185| 3. **Market Position and Long-Term Prospects**: - Nvidia's market capitalization does not appear to hinder its investment returns, as Truist noted that becoming the largest company by market cap does not systematically challenge future investment returns. - The company's focus on AI and HPC solutions, along with its strong financial performance, positions it well for long-term growth. 4. **Conclusion and Recommendation**: - Given the mixed signals from technical indicators and the potential for analyst optimism to influence investor sentiment, Nvidia's stock could experience some volatility. - However, the price targets set by analysts and the company's strong fundamentals suggest that there is potential for the stock to move upwards over the medium to long term. Investors should monitor the stock's performance against its moving averages and support/resistance levels. If the stock can hold above the support level and show signs of strength against the resistance, it could be a bullish signal. Conversely, a significant drop below the support level could indicate further downward pressure.