Nvidia Stock Hits A New All-Time High – Is $1,000 Possible In March?
Nvidia (NASDAQ: NVDA) stock price continues to generate massive gains for its investors. The stock of the GPU manufacturer surged to a new all-time high of $853 on Monday. The recent earnings report and a very positive outlook for the rest of the year have boosted investor faith in the shares of the AI giant.
A broader look at the US equities market shows that the S&P 500 index has strengthened its hold above the major psychological level of 5,000 points. After refreshing its all-time high of around 5,149 points on Monday, the index closed below last week’s highs. At press time, the Emini S&P futures contracts are changing hands at 5,116 points after a further decline of 0.41%.
Similarly, the tech-heavy NASDAQ 100 index has also gained strength above the 18,000 level. Much of this surge can be attributed to the Nvidia stock’s exponential run in the last few months, as other tech stocks haven’t shown similar gains.
Many investors are expecting the NASDAQ 100 to surpass the 20,000 mark in the coming months. However, it depends on whether the market’s rater cut expectations are met in the next FOMC meeting.
Nvidia Stock Price Prediction
Technical analysis of the daily chart shows that NASDAQ: NVDA is gravitating toward the magical mark of $1,000. However, the recent surge has left many price gaps, creating inefficiencies in the order books. Very often, these gaps tend to get filled. One such gap lies below $837.
Nvidia stock price forecast also depends on the breakout from the diagonal resistance, which is marked by the blue trendline on the chart. In the event of a breakout above this critical resistance level, $1,000 price target will be well within reach. Otherwise, the stock price may fill the gap below 837.
Even a bigger imbalance is present below $742 level, which may also get filled in case of a deeper pullback. However, the current market sentiment seems to be too bullish for such a deep correction. Al
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Nvidia (NASDAQ: NVDA) stock price continues to generate massive gains for its investors. The stock of the GPU manufacturer surged to a new all-time high of $853 on Monday. The recent earnings report and a very positive outlook for the rest of the year have boosted investor faith in the shares of the AI giant.
A broader look at the US equities market shows that the S&P 500 index has strengthened its hold above the major psychological level of 5,000 points. After refreshing its all-time high of around 5,149 points on Monday, the index closed below last week’s highs. At press time, the Emini S&P futures contracts are changing hands at 5,116 points after a further decline of 0.41%.
Similarly, the tech-heavy NASDAQ 100 index has also gained strength above the 18,000 level. Much of this surge can be attributed to the Nvidia stock’s exponential run in the last few months, as other tech stocks haven’t shown similar gains.
Many investors are expecting the NASDAQ 100 to surpass the 20,000 mark in the coming months. However, it depends on whether the market’s rater cut expectations are met in the next FOMC meeting.
Nvidia Stock Price Prediction
Technical analysis of the daily chart shows that NASDAQ: NVDA is gravitating toward the magical mark of $1,000. However, the recent surge has left many price gaps, creating inefficiencies in the order books. Very often, these gaps tend to get filled. One such gap lies below $837.
Nvidia stock price forecast also depends on the breakout from the diagonal resistance, which is marked by the blue trendline on the chart. In the event of a breakout above this critical resistance level, $1,000 price target will be well within reach. Otherwise, the stock price may fill the gap below 837.
Even a bigger imbalance is present below $742 level, which may also get filled in case of a deeper pullback. However, the current market sentiment seems to be too bullish for such a deep correction. Al
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