Nvidia Corp. (NASDAQ:NVDA): Nvidia may be heading down to retest its 100-day EMA

 


Nvidia stock tumbled over 10% on Friday and has now entered bear market territory, at $779.2 per share. The next support is its 100-day EMA. Nvidia Q1FY25 is still 5 weeks away, but one should keep an eye on the commentaries from Microsoft, Meta and Google, the biggest spenders on H100 GPUs.

Investors may also want to pay attention to Tesla's earnings report on Tuesday. Elon Musk said the next-generation Grok 3 model will require 100k H100 GPUs to train. Things could change though, as Tesla stock has been crashing.

This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!


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