How Much More Can Nvidia Stock Rally After Recent Surge? Options Market Offers Vital Clues
Portfolio Pulse from Bhavik Nair
NVIDIA Corporation's (NASDAQ:NVDA) stock closed 24.37% higher after reporting strong quarterly earnings and an upbeat forecast. The options market indicates resistance at the $400 Call strike and support levels between $275 and $300 Put strikes.
May 26, 2023 | 9:39 am
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NVIDIA's stock surged after strong earnings, with options market indicating resistance at $400 Call strike and support levels between $275 and $300 Put strikes.
NVIDIA's stock price surged after reporting strong earnings and an upbeat forecast. The options market indicates potential resistance at the $400 Call strike, suggesting that the stock may face some difficulty in rising above this level in the short term. On the other hand, support levels between $275 and $300 Put strikes indicate that the stock may find some support at these levels if it experiences a short-term correction. The strong earnings report and the options market data suggest a positive short-term impact on NVIDIA's stock price.
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