NVIDIA (NASDAQ:NVDA) stock has had a poor recent performance, underperforming the NASDAQ100 and S&P 500, but now is an opportunity to buy.
NVIDIA (NASDAQ:NVDA) Daily candlestick chart – 11.12.2024
As of the close, NVIDIA shares fell 2.69% to close at $135.007, falling below $134 intraday, mainly affected by the semiconductor index, Broadcom, TSMC, etc. all fell sharply.
NVIDIA has very strong buying support at $131, and according to my recent trading records, the range of $130-$145 is very profitable, but it should be noted that there is no probability of falling below $130, so the total position is controlled within 30%. At the moment my position is within 30%, and if it falls below $130, I will increase my position again, and this probability has started to rise recently.
Buying on dips is still a very good opportunity to trade profitably.
As for the valuation level, I think the overall valuation of the market is very high at present, as an AI leader, the current valuation level is a bit high, but there is no bubble. If the stock price falls sharply, it is still an opportunity to increase the position.