Vanguard Group, Inc. is the top shareholder of NVDA stock and owns 8.15% of the company, with a current value of $97.7 Billion and a total NVDA share count of 201,392,728. Moreover, the recent insider transactions of Nvidia Corporation, in the last three months sold a good amount of NVDA shareholding in the semiconductor company. Mark Stevens, Tench Coxe, A. Seawall, Harvey Jones, and Dawn Hudson sold nearly 344,932 shares, worth $145.4 Million approximately. This is as per the information on the financial website, Simply Wall St.
NVDA stock has been rising since the beginning of 2023 and has shown buyer accumulation. The stock encountered a barrier near the supply range and had a false breakout and retracement in the previous sessions.
Based on recent data, the revenue of Q2, 2023 was $13.507 Billion with a net income of 6.19 Billion. Moreover, the NVDA stock estimated EPS for Q2’ 23 was 2.08, and the reported EPS was 2.70 which gave a positive surprise of 29.69%. Moreover, the forecasted EPS for the next quarter is positive at 3.31.
According to the price action, it seems that the NVDA stock is ready for a significant increase, with potential growth in price for the upcoming sessions. The stock’s upward direction is supported by the buyers who are trying hard to maintain these levels.
The NVDA stock (Nvidia Stock) continues to show bullish momentum in the uptrend above the key moving averages. However, the trend has recently shown some signs of losing strength in the share price. On the daily charts, NVDA stock is in the bullish zone and has maintained the uptrend above the 20 and 50-day EMAs.
NVDA stock price was at $485.09 with an intraday decrease of 1.71%. Moreover, the intraday trading volume of NVDA is 46.383 Million more than the 10-day aggregate volume of 63.215 Million. The stock has bounced back after a pullback and has a market cap of $1.198 Trillion. Analysts gave a strong buy rating with a yearly target price of $1100, suggesting a growth outlook for future sessions.
The Nvidia Corporation (NVDA stock) is about to pay dividends and the dividend Ex-date is on September 6th, 2023. The amount that COP Stock will pay is going to be $0.04 and the payment date will be September 28, 2023.
Technical Analysis of NVDA Stock Price in 1-D Timeframe
As per price action, NVDA was in a bullish trend from October last year even before 2023 started. The NVDA price found support around $109 and was strongly bought as it was available at a discount. From the low of $109 to the high of $290, the journey was swift and flawlessly upward, the high was reached by August 30, 2023. Moreover, the price spent a fair amount of time on Fibonacci levels of 61.80%, 38.20%, and 23.60% and stepped up smoothly from these Fibo levels.
As per the CMP $485.09 (at press time), the price faced some resistance earlier and dropped to the 23.60% level, from here it took a rebound and bounced back upwards. Moreover, In addition, most of the quarterly reports show that the stock is purchased.
The current stock price of NVDA stock might achieve more, there is a possibility for the price to move toward the next resistance level of $490 and an annual high of $501.
On the other hand, if the price breaks below the $468 significant support level, it might fall toward $455 and beyond.
At the time of publishing, Nvidia Corporation. (NASDAQ: NVDA) is trading above the 20, and 50 EMA. RSI is around 60, turned bullish as it took 14 SMA support and MACD gave a bullish crossover on the charts.
The NVDA stock price has risen above $468 to regain bullish momentum and if it holds then it might potentially break the annual high of $502. Technical parameters for NVDA also support the increase in bullish momentum. Nvidia Corporation. (NASDAQ: NVDA) Stock prices are bullish on the 1-D time frame as indicators turn bullish. The traders and investors also suggest positive buying sentiments.
Support levels: The nearest support levels for NVDA price are $468 and $455.
Resistance levels: The nearest resistance levels for the NVDA stock price are $490 and $501.
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