Following a staggering $279 billion loss in market capitalization on September 4, many expect a correction after the stock peaked at $140.<\/p>\n
Technical analyst Alan Santana highlighted<\/a> <\/strong>a double-top pattern on Nvidia\u2019s year-to-date chart, suggesting a bearish reversal. The peaks occurred on June 20 at $139.80 and October 17 at $140, separated by a dip to $92.23. He noted that both peaks closed lower, accompanied by a bearish engulfing candle and declining trading volume, signaling a possible downturn. He advises investors to take profits and consider re-entering near support levels if a correction occurs.<\/p>\nDespite these bearish signals, Nvidia\u2019s valuation is driven by strong demand in AI and data centers. The stock currently trades at $137.28, reflecting a 185% year-to-date return.<\/p>\n
Despite these bearish signals, Nvidia\u2019s valuation is driven by strong demand in AI and data centers. The stock currently trades at $137.28, reflecting a 185% year-to-date return.<\/p>\n