The Nvidia Q3 earnings are a mixed bag of profits and losses, and the NVDA stock dipped 3.5% on Thursday before ending the day’s green trade at 1.36%. Volatility was on full display as investors remained in two minds about taking an entry position in the stock. The sudden dip indicates that the leading chipmaker could be headed for corrections in the broader markets. This could also be a buying opportunity as the stock is reliable and has solid growth for the long term.
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Nvidia: A Dip to $114 On the Cards For NVDA Stock, Predicts Analyst
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Jim Cramer, host of the CNBC show Mad Money, took to X to say that investors who think Nvidia stock will dip will realize they’re making a mistake. “I’m Trying to get into the heads of the Nvidia sellers. Are they trying to sell at $141 because they think it is going to be $137? What’s their plan? I would actually listen to what they have to say. But I am old fashioned,” he said.
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“Nvidia sellers thinking, ‘I know, I will get out before it goes to $141 where I can buy it back.’ Big thinkers”, he trolled the sellers. However, leading analyst Ali Charts, who mostly delivers cryptocurrency price predictions, corrected Cramer in the comments.
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The analyst wrote that Nvidia stock could fall to the $114 level as the TD Sequential tool indicates an incoming dip. “It’s going to $114 as the TD shows a sell signal on the weekly,” he replied to Cramer. For the uninitiated, TD Sequential is a technical analysis that gauges whether the current trend will experience a reversal.
According to the analyst, the tool indicates that a reversal is on the cards that could make Nvidia stock dip. If NVDA falls to the $114 level, it would be a good buying opportunity for long-term investors.
