Buy the decline in Nvidia (technical analysis) (rating upgrade).
Nvidia Corporation's earnings show solid growth, with third-quarter earnings up 94% year-on-year despite a recent stock price decline, led by impressive performance in data center sales.
The future increase in valuation indicators suggests the need for targeted pullbacks. Nvidia's future P/E ratio is 46.33 times, higher than most of the industry's MAG-7 peers.
The recent drop in the stock price to the mid-130-dollar range could be a buying opportunity. The support near the 50-day EMA indicates the possibility of an increase outweighing the downside risk.
Based on the current market situation, I have raised my outlook to 'strong buy' and aim to update the all-time high by the end of 2024.
The future increase in valuation indicators suggests the need for targeted pullbacks. Nvidia's future P/E ratio is 46.33 times, higher than most of the industry's MAG-7 peers.
The recent drop in the stock price to the mid-130-dollar range could be a buying opportunity. The support near the 50-day EMA indicates the possibility of an increase outweighing the downside risk.
Based on the current market situation, I have raised my outlook to 'strong buy' and aim to update the all-time high by the end of 2024.
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