From Nasdaq: 2024-06-25 08:34:38

Nvidia shares stabilize after $430 billion selloff, rising 3.5% in premarket trading. Analysts note stock still above key moving averages, indicating long-term strength. Nvidia rebounds on fourth day post-selloff 63% of the time. Surge in stock price due to high demand for AI chips, reaching $3.34 trillion market value in June, surpassing Microsoft. Market anticipating Fed’s stance on rates and election impact.

Nvidia’s strong performance driven by demand for AI chips, leading to gamma squeeze from high options activity. Short-term support around $115 level, key Fibonacci retracement point. Analysts like Buff Dormeier see long-term trend intact, caution advised if stock falls below $100. Volatile market influenced by upcoming elections and Fed’s interest rate decisions. Bruce Zaro emphasizes caution if stock drops below $100, signaling potential need for patience.



Read more at Nasdaq: Nvidia Rebounds as Traders Seek Support Amid $430B Selloff