How To Trade Nvidia This Week
Portfolio Pulse from Ryan Glosier
Nvidia (NASDAQ:NVDA) is hovering around two key levels: $400 per share and a $1 trillion market capitalization. The stock is trading at more than 200x earnings and 25x sales, but is well-positioned to capitalize on the AI boom. A break above $400 could push NVDA up to $450 by the end of the week.
May 31, 2023 | 2:38 pm
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Nvidia is trading around $400 per share and nearing a $1 trillion market cap. A break above $400 could push the stock up to $450 by the end of the week.
Nvidia is trading at a high valuation, but its strong position in the AI market makes it an attractive stock for investors. The break above $400 per share could trigger a bullish momentum, pushing the stock price up to $450 by the end of the week. This potential price increase is based on the psychological levels of $400 per share and a $1 trillion market cap, as well as the company's strong performance in the AI market.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100