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Nvidia (NVDA) Technical Outlook – Further Losses or Short-Term Consolidation?

June 25, 2024

Via: DailyFX

Nvidia has shed nearly 16% of its market value in the last three trading sessions as sellers take control of the world’s largest chipmaker. Nvidia became the world’s largest company last week, with a valuation in excess of $3.34 trillion, surpassing both Microsoft and Apple, but now sits in third place with a market cap of around $2.85 trillion. The recent sell-off coincides with news that Nvidia CEO Jensen Hang has sold around $95 million of stock in the past few days. To keep the recent consolidation in perspective, Nvidia remains on of the S&P 500’s top performers, with year-to-date gains of around 140%.

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