Sign InNVDA Stock: Technicals Strong, Fundamentals Positive for Long-Term Investment
Summary
On June 22, 2023, NVIDIA Corporation (NVDA) closed at $430.25, with technical indicators displaying a strong upward trend and promising fundamentals in AI and cloud gaming, indicating that it is currently a good long-term investment.
Stock Overview
NVIDIA Corporation (Ticker: NVDA) closed at $430.25 on June 22, 2023, down $0.20 (-0.05%). The stock achieved a low price of $422.34 and a high price of $434.26 during the day. The year-to-date high and low are $439.90 and $108.13, respectively. Currently, the company has a market cap of $1.06 trillion, with an average trading volume of 47.24 million shares. NVIDIA is traded on the NASDAQ exchange.
Technical Analysis
Looking at the technical indicators, NVDA's 14-day Relative Strength Index (RSI) is 66, indicating a slightly overbought condition. The 50-day moving average is $325.91, and the 200-day moving average is $214.74, both well below the current stock price. The 3-month Moving Average Convergence Divergence (MACD) is 41.78, suggesting a strong upward trend.
Fundamental Analysis
NVIDIA has a current earnings per share (EPS) of $1.93 and a price-to-earnings (PE) ratio of 222.93. With 2.47 billion shares outstanding, NVDA's discounted cash flow (DCF) value is reported at $431.60. The stock's target high price is $600, target low is $133, and the target consensus price is $261.29, with a target median price of $240.
Recent News and Market Trends
Recent news highlights the potential growth of NVIDIA in artificial intelligence (AI) chips and its dominance in the emerging cloud gaming market. The company's board members have also been noted for taking advantage of its soaring share price.
Price Prediction for June 23, 2023
Based on the current technical and fundamental data, it is likely that NVDA will continue its upward trend in the short term. For June 23, 2023, the stock price may see a slight increase from its last close, possibly approaching the day's high of $434.26.
Price Prediction for the Upcoming Week
NVDA has been on an upward trajectory, so it is likely to continue gaining ground during the upcoming week. Prices may remain around the 50-day moving average of $325.91 or trend higher towards the year-high of $439.90.
Final Evaluation
NVIDIA Corporation (NVDA) is currently rated as a Buy. The stock's strong technical indicators, such as RSI and MACD, demonstrate a continued upward trend. The company's fundamentals show promise in several market segments, including artificial intelligence and cloud gaming, giving investors the confidence to consider this stock a good long-term investment. However, as always, it is essential to continue monitoring the stock's performance, news, and market conditions to make informed decisions.
