Mark Newton, Fundstrat Global Advisors managing director and global head of technical strategy, joins Market Domination to discuss his outlook on Nvidia (NVDA).
“Nvidia has had a nice, sharp, near-term rebound as part of largely a choppy rangebound triangle pattern that’s been intact really since the summer — June, July,” he tells Yahoo Finance.
However, he believes the stock will likely stall out between $140 and $145. “I don’t see it going to 180 right away. I think there’s a great case to be made about why this company and the stock is phenomenal long-term. I just don’t see it,” he explains.
“I think, in general, it’s going to consolidate in November. That’s going to be your buying opportunity. Still great to buy and hold long term here,” he concludes.
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This post was written by Melanie Riehl
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