nvidia shares retreat after reaching new all-time high

NVIDIA shares saw a decline after reaching a record high earlier this week. The stock had gained about 14% in October and reached an all-time high of USD 144.42 on Tuesday. However, profit-taking led to a decrease, and the stock closed at USD 139.56 on Wednesday, down 2.8%.

If the stock continues to rise, it could potentially reach USD 150, with further upside potential in the USD 153.00 to USD 158.00 range. On the other hand, if it falls below the June high, a decline to the July high of USD 136.15 is expected, with additional support levels at USD 131.26 and the 130 mark. Breaching these support zones could lead to a significant pullback, potentially testing the June downtrend line.

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  • The stock's future performance is closely linked to its previous highs, with immediate resistance at USD 140.76.
  • If the stock continues to rise, it could potentially reach USD 150, with further upside potential in the USD 153.00 to USD 158.00 range.
  • If it falls below the June high, a decline to the July high of USD 136.15 is expected, with additional support levels at USD 131.26 and the 130 mark.
  • Breaching these support zones could lead to a significant pullback, potentially testing the June downtrend line.

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