Nvidia: After Surging 48%, It’s Time For An Update (Technical Analysis, Rating Downgrade)


  • Investors who followed my last calls on NVDA could top their return at 48% profit over the past month.
  • The stock has reached the previously set target, it’s time to reconsider the risk profile and update the contingency plan.
  • In this technical article, I discuss important price levels and metrics that investors could consider to gain an edge over the stock’s likely price action.
  • By considering multiple outcomes and setting up an adequate contingency plan, investors are less inclined to act driven by emotions, as this could come at a higher cost.
  • NVIDIA’s stock has formed wave 3 and is expected to start wave 4, increasing the risk of a retracement, leading me to downgrade NVDA to a hold position.
Finance And Investment Concept - Line Graph With Arrowhead Moving Up Over Stop Text And Red Bull"s Eye Target On Blue background

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NVIDIA (NASDAQ:NVDA) has achieved stellar performance over the past month, leading the stock to break out from its downtrend and reach the target I suggested on January 12, 2022, while upgrading NVDA to a buy position. As the stock and the industry benchmark

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: All of my articles are a matter of opinion and must be treated as such. All opinions and estimates reflect my best judgment on selected aspects of a potential investment in securities of the mentioned companies, as of the date of publication. Any opinions or estimates are subject to change without notice. I am not acting in an investment adviser capacity, and this article is not financial advice. I invite every investor to do their research and due diligence before making any investment decisions. I take no responsibility for your investment decisions but wish you great success.

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