Stock analyst predicts the precise moment Nvidia NVDA will reach its next recordbreaking peak

Despite short-term bearish sentiments, Nvidia (NASDAQ: NVDA) could potentially reach a record high, according to a stock trading expert. The expert pointed to Nvidia’s True Strength Indicator (TSI) on the weekly chart, which shows a “double bottom formation” indicating a forthcoming bullish move. However, the expert warned that the TSI has not yet made a bullish crossover. The TSI is a momentum-based technical indicator used to determine the strength and direction of a stock’s trend. Nvidia is currently trading within the upper band of the Bollinger Bands, suggesting some near-term support and resistance levels. The expert predicts that Nvidia will not achieve a new all-time high until its next earnings report in late November. The company is anticipating increased revenue for the third quarter of 2024 due to sustained demand for its artificial intelligence chips. Despite short-term volatility, analysts have differing opinions on Nvidia’s near-term prospects. Investors will need to closely monitor the stock for clearer signals.