Nvidia (NVDA) Stock Rebounds Monday After 10% October Drop as Technical Warning Grows

TLDR Nvidia stock fell 10% to $204.64 in October after a record close of $239.24. ICAP Technical Analysis says a key weekly support line was “decisively broken” last week. The next level down could be $185.94, with a 61.8% Fibonacci drop at $92.99. Nvidia was up 1.6% to $207.98 ahead of the open Monday. Analysts keep a “Buy” consensus with a $321.47 average price target. Nvidia (NVDA) stock is up 1.6% to $207.98 ahead of the open Monday. That follows a rough October for the chipmaker. NVIDIA Corporation, NVDA The stock fell 10% to $204.64 last month. It hit a record close of $239.24 early in the month. Shortly after that high, ICAP Technical Analysis warned of a “big, bearish, rising wedge” on the weekly chart.

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