Analyst sets date when Nvidia stock will hit $200
The post Analyst sets date when Nvidia stock will hit $200 appeared on BitcoinEthereumNews.com.
An analyst has identified a technical setup in Nvidia’s (NASDAQ: NVDA) chart that could push the stock toward $200 despite the recent pullback. Notably, at the close of the last trading session, the semiconductor giant was trading at $135.13, down nearly 3% for the day. However, even with this short-term dip, Nvidia has maintained an impressive upward trajectory over the past month, gaining 24%. NVDA one-month stock price chart. Source: Finbold This momentum comes in the wake of Nvidia’s strong Q1 2025 earnings report. The company beat expectations, posting adjusted earnings per share of $0.96 compared to the anticipated $0.93 and revenue of $44.06 billion, exceeding forecasts of $43.31 billion. That said, the technology company’s revenue guidance for the upcoming quarter came in about $8 billion lower than expected due to a U.S. export restriction on its H20 chips for China. This resulted in a $4.5 billion charge linked to excess inventory and $2.5 billion in lost sales. Still, Nvidia projects around $45 billion in sales for the quarter, just slightly below analysts’ estimates. NVDA share price path to $200 Despite these challenges, prominent online analyst TradingShot believes this pullback is a temporary pause in a broader uptrend. In a TradingView post on May 31, TradingShot highlighted the formation of a bullish cup-and-handle pattern on Nvidia’s chart. NVDA stock price analysis chart. Source: TradingView This pattern typically features a rounded “cup,” indicating a period of consolidation and accumulation, followed by a “handle” or a short-term dip. A breakout from this formation often triggers a strong rally. Currently, Nvidia faces resistance at $143.60, which has been high since February 18 and sparked some recent profit-taking. However, strong support from the 50-day and 200-day moving averages (MA) is helping keep the bullish pattern intact. TradingShot envisions a potential medium-term target of $200,…
Filed under: News - @ May 31, 2025 12:20 pm