Cautious optimism to give way to December decline for NVDA

The sentiment around NVIDIA (NVDA) over the past 72 hours has been mixed but leans slightly positive. Here's what we see:

Analyst Views: Analysts remain bullish, with a strong "buy" consensus and an average price target suggesting a potential 21% upside from current levels. This reflects optimism about NVIDIA’s prospects, particularly with its leadership in AI and data center technology.

Seasonal Trends: Did you know? December has been a weaker month for NVIDIA’s stock performance, with shares declining in 60% of Decembers over the past decade. However, this is typically followed by strong recoveries in the new year.

Investor Discussions: Investors 'round the Web are expressing cautious optimism. Some highlight concerns about high valuation and broader market headwinds, while others emphasize NVIDIA's long-term growth drivers like AI and semiconductor demand.

We see this cautious optimism leading to a rise to a key resistance level in the 144.00 price range, followed by a decline in December, fueled alongside the SPY's potential crumbling sometime in December.