- Nvidia’s stock price dropped by 2.60% at the start of the week.
- Despite recent market volatility, Nvidia’s year-to-date stock performance has increased by an impressive 197%.
NVIDIA Corp’s NVDA had a rough start to the week with a significant drop in stock price of 2.60%.
This decline was not unexpected, as there were already signs of potential trouble leading up to it.
Starting from August 24th, the stock continued its downward trend and ended the week with a 12% decline from its high.
Interestingly, the recent decline happened soon after the stock price reached the $500 mark, which is seen as a psychological threshold.
Many investors considered this price to be too high and believed the stock was overvalued, which likely prevented the stock price from going beyond this point.
However, the stock market is unpredictable. Despite the bearish sentiment at the beginning of the week, Nvidia’s stock showed resilience.
Instead of succumbing to downward pressure, the stock regained momentum and closed nearly 3% higher than the opening price by the end of Monday’s trading.
While accurately predicting the stock market is challenging, certain indicators can provide valuable insights.
One indicator to consider is the recent low recorded on August 14th, which was around the $400 mark.
If the stock price falls below this level, it could indicate a further decline.
However, it’s important to note that currently, Nvidia’s stock shows a pattern of higher highs and higher lows, which is characteristic of a bullish trend.
Despite recent fluctuations, Nvidia’s stock performance remains impressive, with a 197% year-to-date growth, showing its potential to reach the $500 mark again.
Whether encountering short-term volatility or experiencing long-term growth, Nvidia’s journey in the stock market is worth observing.
After the closing bell on Monday, September 18, the stock closed at $439.66, trading up by 0.16%.
