How low is NVDA projected to go

NVIDIA (NVDA) is projected to face downward pressure in the short term, with several factors contributing to this outlook:

1. Technical Indicators Suggesting Weakness:
   • NVIDIA's stock is trading below its 5-day and 10-day moving averages, which can be bearish signals. The 5-day moving average is $120.48, and the 10-day moving average is $123.77.
   • The stock is also approaching its support level at $117.99, which could be a point of interest if the price falls further.
2. Analyst Sentiments and Price Targets:
   • Despite the short-term bearish signals, analysts remain bullish on NVIDIA's prospects. The average price target over the next 12 months is $151.79, which represents a significant upside from the current price.
   • However, the stock is not immune to market volatility, and the recent dip in NVIDIA's stock price has led some analysts to issue sell signals.
3. Market Sentiment and External Factors:
   • The broader market conditions and investor sentiment can influence NVIDIA's stock price. For example, concerns about the company's next-generation AI chip, Blackwell, and its potential delay have affected investor confidence.
   • Global economic factors, such as the impact of interest rate changes, can also affect NVIDIA's performance, especially given its exposure to international markets.
4. Support and Resistance Levels:
   • NVIDIA's stock is currently trading near its support level at $117.99, which could act as a floor if the price falls further. However, if the stock breaks below this level, it could signal a deeper decline.
   • The resistance level at $121.08 may pose a barrier to any upward movement, but it could also act as a point of interest if the price approaches it.

In conclusion, while the long-term outlook for NVIDIA remains positive, with analysts setting high price targets, the stock is currently facing downward pressure from technical indicators and market sentiment. Investors should monitor the stock's performance against key support and resistance levels and keep an eye on broader market conditions and NVIDIA's product launches.