#WaveAnalysis
#Nvidia reversed from support zone
Likely to rise to 430.40
https://fxpro.news/market-snapshots/nvidia-wave-analysis-22-july-2020-20200722/
#Nvidia reversed from support zone
Likely to rise to 430.40
https://fxpro.news/market-snapshots/nvidia-wave-analysis-22-july-2020-20200722/
#Review
Shares of #Nvidia, the world's most traded, most popular, and most valuable company, have been under corrective pressure for a while. From last Thursday's peak at $140.48, the price has lost 16% to $117.86 in just three trading days.
Investors are taking abundant profits in one of their favourite securities, which has seen a three-fold increase in price since the beginning of 2024 and a ten-fold increase since the beginning of 2023. The amplitude of the company's growth and capitalisation is so significant that it influences the direction of the Nasdaq100 index and the entire US market.
Nvidia’s 6.7% drop on Monday provided the worst day for the Nasdaq100 since April. For now, we're seeing more signs of a quarterly portfolio shakeout but not a global downside reversal.
The heavy selling in the Nasdaq100 index has come with the index touching territory above 20,000, taking 3% away from it already.
Shares of #Nvidia, the world's most traded, most popular, and most valuable company, have been under corrective pressure for a while. From last Thursday's peak at $140.48, the price has lost 16% to $117.86 in just three trading days.
Investors are taking abundant profits in one of their favourite securities, which has seen a three-fold increase in price since the beginning of 2024 and a ten-fold increase since the beginning of 2023. The amplitude of the company's growth and capitalisation is so significant that it influences the direction of the Nasdaq100 index and the entire US market.
Nvidia’s 6.7% drop on Monday provided the worst day for the Nasdaq100 since April. For now, we're seeing more signs of a quarterly portfolio shakeout but not a global downside reversal.
The heavy selling in the Nasdaq100 index has come with the index touching territory above 20,000, taking 3% away from it already.
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