An accumulation approach might not be the worst choice for long-term investors. A recent drop of 63.5% from its highs and entry into a significant support region could serve as a bounce area. The bottom line: Over the past twelve years, Nvidia stock has experienced maximum drops of 54% to 57.5%. The stock has had three significant drops of more than 50% in the past 12 years, but-and this is a big but-never more than 57.5%. The Nvidia stock has experienced significant reductions throughout the years. However, many of these shorts also believe that Nvidia's 200-week moving average may serve as significant support and that the company has a limited downside. For almost a month, we have been keeping an eye out for this mark's tag.Īfter all, the trend has been on your side if you are short Nvidia. On Friday, the shares recovered after touching the 200-week moving average. The harsh correction of Nvidia's shares, which saw a drop of more than 63%, is depicted on the weekly chart up top.
I want to look at the stock again for that reason. Despite all of this, Nvidia has a great future and its stock has been severely undervalued. However, it is facing strong fundamental and technological momentum.
This week, Nvidia will host its GTC event, which could serve as a trigger. Nvidia foreshadowed a significant revenue shortfall, then followed that with a sluggish quarter and dismal guidance. The Santa Clara, California, corporation is not the only one, to be sure. It has not been a terrific stretch for the stock, to put it frankly. The stock hit fresh 52-week lows on Friday and is now 64% below its November 52-week high. The pioneer of revolutionary graphics chips, Nvidia (NVDA), has had a difficult year. Watch this important support area right away. Nvidia's stock price last week reached new 52-week lows after falling more than 60% from its highs.
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