My bearish price targets for $NVDA are reached, now what?
My bearish price targets for 
NVDA #NVIDIA are reached: 97.39 > 96.76 > 92.21. We pulled back -35% from the top. This could be a healthy pullback.
Next is to find out if we can hold this support area:
- If we hold support, we can go for new all time highs. If you think so, support levels can be a good entry point for a LONG position.
- If we don't hold support, the next support level is sitting around ~$50.
Also, if we look at the fundamentals (//penketrading.com/symbols/NVDA.NASDAQ/) the company is growing fast, but even with this growth and my 10 year intrinsic value calculation the value is between $12.48 - $38.27 per share.
Just my analysis, not financial advice. What do you think?
Best regards,
Penke
NVDA #NVIDIA are reached: 97.39 > 96.76 > 92.21. We pulled back -35% from the top. This could be a healthy pullback.Next is to find out if we can hold this support area:
- If we hold support, we can go for new all time highs. If you think so, support levels can be a good entry point for a LONG position.
- If we don't hold support, the next support level is sitting around ~$50.
Also, if we look at the fundamentals (//penketrading.com/symbols/NVDA.NASDAQ/) the company is growing fast, but even with this growth and my 10 year intrinsic value calculation the value is between $12.48 - $38.27 per share.
Just my analysis, not financial advice. What do you think?
Best regards,
Penke
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