Nvidia Price Forecast – Nvidia Continues to Inflate

NVIDIA Technical Analysis

You could see that Nvidia did pull back a bit after initially shooting higher on Friday. And as we head into the Monday session, there’s probably not a lot to move the market. I think at this juncture, a pullback is more likely than not, but we will have to wait to see if and when we get that after all. This is a market that tends to be very erratic. It’s behaving very much like a mania, a bubble if you will, so do keep that in mind.

I would take a look at this like 740 level as a potential entry and then right here at maybe 675, and short-term pullbacks should be thought of as buying opportunities. But you know, this behavior it’s not normal, this is a bubble at 75% in just a couple of months. Is Nvidia going to change the world? Maybe, but the reality is, what if some of their biggest customers start talking about AI falling off of a cliff?

Because let’s face it, some AI has been rather impressive, yet other AI has been rather lackluster. Nvidia is going to take a huge punch to the face. Right now, though, it certainly looks as if everybody’s willing to pile into the same handful of stocks and then Nvidia leads that charge. So there’s no way you can short this market. I think you just look at each pullback as a potential buying opportunity on signs of value in what is, without a doubt, a mania. You have to understand that when this ends it’ll end poorly, but right now certainly doesn’t look as if we are nowhere close to even thinking about reversing the trend.

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