- The company exceeds $3 billion in market capitalization.
- NVIDIA posts a daily gain of 2.17%, reaching highs not seen since August 28.
NVDIA hit a daily low of $121.61, attracting aggressive buyers who pushed the stock price to highs not seen since August 28 at $124.94. At the time of writing, NVIDIA shares are trading at $123.48, up 2.17%.
NVIDIA Corp. surpasses $3 billion in market capitalization after hitting four-week highs
The semiconductor manufacturer consolidates its leadership in the industry by surpassing the $3 billion mark in market capitalization, signing its second consecutive session on the rise and reaching highs not seen since August 28 at $124.94.
NVIDIA has managed to close agreements with several companies to promote the development of artificial intelligence, among which NetApp and Alibaba stand out recently. The company has exceeded analyst expectations in its last 7 quarterly reports, both in revenue and earnings per share. Investors will be attentive to the company’s next earnings report, which will be released on November 14.
Technical levels at NVIDIA
NVDIA shares reacted to the upside at a short-term support located at $100.95, given by the low of September 6. The next key support is seen at 90.69, pivot point of August 5, in convergence with the 23.6% Fibonacci retracement.
The nearest resistance is at $131.26, given the August 26 high, close to the 48.6% Fibonacci.
NVDIA Daily Chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
