Nvidia Price Forecast: Stocks Expected to Plummet to $114 Amidst Market Analysis
Nvidia Price Target of $114: Analysis and Insights
Nvidia's (NASDAQ: NVDA) latest quarterly report created a significant ripple in the stock market, causing investors to rethink their positions. Following a phase of initial disappointment despite beating earnings forecasts, NVDA shares are currently fluctuating. As of November 20-21, the stock price rose from $145.89 to $148.35, yet some analysts believe a downturn is imminent.
Market Expert Predictions
Prominent market analyst Ali Martinez has stated that Nvidia stocks could experience a severe correction, forecasting a target price of $114 based on technical analysis. Utilizing the TD Sequential tool—designed to predict trends in asset performance—Martinez indicates a sell signal has emerged for NVDA's weekly chart.
- TD Sequential's Functionality: This tool evaluates current trends against historical data, signaling potential reversals.
Notably, Tom DeMark has compounded this viewpoint, asserting that Nvidia shares are poised for correction after reaching their next high following earnings announcements.
Broad Market Sentiment
While Martinez's prediction stands out, the overall market sentiment appears more optimistic. Analysts from various firms, including Wells Fargo and Barclays, have revised their expectations positively following Nvidia’s strong performance. Despite these revisions, some experts, like Deutsche Bank, maintain cautious outlooks, predicting future price drops.
- Recent Upgrade Highlights:
- Wells Fargo: from $165 to $185
- Barclays: from $145 to $160
- Mizuho: from $165 to $175
- Goldman Sachs: from $150 to $165
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.