Nvidia rout has traders watching key level amid 'vacuum'
Published On Sep 4, 2024, 8:05 AM
Traders are closely monitoring Nvidia's stock price as it approaches the critical $100 per share mark, a point that some analysts describe as a significant 'vacuum' in pricing. Following a recent downturn, the stock has faced pressure, leading to speculation about potential movements around this psychologically important level. Market sentiment remains cautious, and the volatility suggests that a breach of this price could lead to larger fluctuations in the stock value.
Stock Forecasts
NVDA
Negative
The focus on the $100/share level indicates a potential sell-off if the price dips below it. However, a surge above this level may represent a rebound opportunity and draw in new buyers.
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