Nvidia: Don’t Expect Major Gains From Here (Technical Analysis)

Summary:

• Nvidia’s stock, despite strong 2024 performance, shows bearish technicals and modest undervaluation, making it a hold rather than a buy.
• Technical analysis reveals a near-term downtrend, weak EMAs, and bearish indicators, suggesting further potential declines.
• Financials remain resilient with strong revenue and EPS growth, but valuation multiples indicate modest undervaluation.
• Overall, Nvidia’s stock appears to be ‘not worthy’ for investors seeking major gains, balancing bearish technicals with resilient fundamentals.

Thesis

Despite having a blockbuster 2024 with its stock advancing nearly 180%, Nvidia Corporation (NASDAQ:NVDA) could be becoming not worthy as its latest 6 month returns only total around 8%. In the analysis below, I determine that the technicals

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