NVIDIA (NASDAQ: NVDA) remains in the spotlight in the stock market following its Q3 2024 earnings report. The stock is currently trading at $140.52, showing resilience amid recent market volatility.
Nvidia’s key technology levels
Current price: $140.52 (-0.72%) Resistance level: $145.00: Short-term resistance, tested but not broken. $150.00: Big psychological barrier. Support level: $136.15: Instant support. Potential pullback zone. $130.03: Strong support held multiple times in recent months.
Q3 2024 Earnings Highlights
Revenue: $30 billion, up 122% year over year. EPS: $0.68, estimated $0.64. Data center growth: Skyrocketing due to AI demand, strengthening NVIDIA’s lead in AI hardware.
price momentum
Bullish Indicator: Price sustains above $140.00, showing strength. Possibility of testing $145.00 again soon. Bearish Risk: A break below $136.15 could trigger a decline to $130.03. Broad market sentiment remains a potential downside.
Outlook: Will NVIDIA’s AI superpower prevail?
NVIDIA stock looks to be in great shape and could soar above $145.00 if AI continues to show its power. But as with any superhero story, there’s always a plot twist lurking. If broader market turmoil creeps in, NVDA could regroup around $136.15.
So, is this the beginning of the next chapter of NVIDIA’s AI dominance, or is it just a cliffhanger before the final showdown? Investors, buckle up. This AI adventure isn’t over yet.
