- Nvidia’s stock, despite strong 2024 performance, shows bearish technicals and modest undervaluation, making it a hold rather than a buy.
- Technical analysis reveals a near-term downtrend, weak EMAs, and bearish indicators, suggesting further potential declines.
- Financials remain resilient with strong revenue and EPS growth, but valuation multiples indicate modest undervaluation.
- Overall, Nvidia’s stock appears to be ‘not worthy’ for investors seeking major gains, balancing bearish technicals with resilient fundamentals.
Thesis
Despite having a blockbuster 2024 with its stock advancing nearly 180%, Nvidia Corporation (NASDAQ:NVDA) could be becoming not worthy as its latest 6 month returns only total around 8%. In the analysis below, I determine that the technicals. I’m a technically-oriented Canadian investor with a focus on U.S. markets, particularly in tech and financials. I graduated with a Bachelor of Commerce Degree with Distinction, with a major in Finance. I’m also a proud lifetime member of the Beta Gamma Sigma International Business Honour Society.My motto is John Pierpont Morgan’s phrase: ‘First-Class Business In A First-Class Way.’ I strive to be a premier provider of technical analysis articles on Seeking Alpha by sharing high-quality in-depth pieces with our community of readers.My core values are: Excellence, Integrity, Transparency, & Respect. I always, to the best of my ability, hold true to these values which I believe are key for long-term success.Lastly, I would like to invite all of my readers to leave their constructive criticism and feedback in the comments section so that I can further enhance the quality of my work moving forward. Thank you and best wishes on your investing journeys.
