Looking For Attractive Entry Point In High-Flier Nvidia? Investment Advisor Sees Nearly 30% Pullback Ahead Of Late-August Earnings
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NASDAQ:NVDA) is expected to see a nearly 30% pullback ahead of its late-August earnings, according to Michael Kramer of Mott Capital Management. Despite its high valuation and recent gains, technical charts suggest a significant downside. Nvidia's shares have been a major driver of the current market rally, and a drop could impact broader market sentiment.
June 21, 2024 | 12:10 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Michael Kramer of Mott Capital Management predicts a nearly 30% pullback in Nvidia's stock ahead of its late-August earnings, based on technical chart analysis. This could bring the stock back to its mid-May levels.
Kramer's analysis is based on technical charts, suggesting a significant downside for Nvidia. Given Nvidia's role in driving the current market rally, a pullback could have broader market implications.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100