Fear has become an opportunity for Nvidia (NVDA).

After catching support at its 50-day moving average, Nvidia is just starting to pivot higher again. From its last traded price of $123.07, we’re looking for NVDA to again test $140. 

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Helping, analysts at Piper Sandler just reiterated an overweight rating on NVDA with a price target of $140. The firm noted that “We view the setup positively ahead of the July quarter earnings and the October quarter guidance.”

NVDA is also becoming oversold on RSI, MACD and Williams’ %R. 

Sincerely,

Ian Cooper