It is unlikely that NVIDIA Corporation's (NVDA) stock price and chart will go under $100 today, given the current market conditions and the company's strong financial performance.
- Recent Performance: NVIDIA's stock has experienced a significant drop, with a 9.53% decrease in the closing price to $108 on September 3, 2024. However, a further decline to under $100 in a single day is quite extreme and would require significant negative catalysts.
- Technical Indicators: The technical indicators such as the Moving Average Convergence Divergence (MACD) is -2.06, and the Relative Strength Index (RSI) is 26.01. These indicators typically suggest a bearish trend, but a drop to under $100 in a single day would be an extreme outcome.
- Support and Resistance Levels: The current support level is at $117.99, and the resistance level is at $121.08. The stock is trading below the support level, but the likelihood of a drop to under $100 in a single day is low, especially considering the recent support level.
- Market Sentiment: The overall market sentiment is cautious, but without significant negative events, it is unlikely that the stock price will experience a drastic drop.
In conclusion, while NVIDIA's stock has experienced a decline, it is unlikely to go under $100 in a single day, given the current technical indicators and market sentiment. Investors should monitor the stock closely for any significant negative catalysts that could alter this outlook.
