Nvidia Corporation (NASDAQ: NVDA) is near its life time high. NVIDIA Introduces Generative AI Foundry Service on Microsoft Azure for Enterprises and Startups Worldwide and adding more new technologies could be a lucrative for the stock to break this time and it may hit lifetime high.
If we find the Chart of the stock as per technical analysis, stock is near all time high, and took a rejection from 500. If it could sustain for sometime here and all news about the stock are good then in near term we can see price of NVDA going more than 500+.
However one must be very conscious while buying at the top of any stock since Risk-Reward may not be favorable at this price. In these kind of breakout short-covering may take the stock to the upper side, however sustainability may not be guaranteed.
If anyone entering into the stock, there must be very strict stop loss.