Nvidia shares rebounded after reaching a key level of support on Wednesday following a decline on Tuesday. The drop came as investors reacted to Chief Executive Jensen Huang’s keynote address at CES 2025, where he announced the company’s plans and vision for artificial intelligence.
Prior to this event, Nvidia’s stock hit an all-time high due to growing optimism about its prospects in AI and other emerging technologies. However, a sudden decline raised concerns among investors about the company’s ability to sustain its growth momentum.
As shares rebounded, analysts noted that support at key levels often indicates a potential buying opportunity. In this case, Nvidia’s stock appears to be finding stability after facing initial resistance.
While it is too early to say whether Nvidia stock should be considered a buy now, its recent recovery suggests that investors may be cautiously optimistic about the company’s future prospects.
Source: https://www.yahoo.com/news/m/dc591aa5-8656-399f-a2b0-90fb4c8c329e/nvidia-finds-key-level.html