NVIDIA shares close higher on Friday, Citigroup revises up its price target for the stock to $210

Citigroup was reported to have revised up its price target for NVIDIA Corporation (NVDA) to $210 from $185 previously due to AI market potential. The bank also kept its “Buy” rating for the stock.

NVIDIA shares closed higher for the third time in the past nine trading sessions on Friday. The stock went up 1.76% ($3.09) to $178.77, after touching an intraday high at $179.73, or a price level not seen since September 22nd ($182.31). In the week ended on October 1st the shares of the PC tech company lost 0.13% of their market value compared to a week ago, which marked a second consecutive period of decline. The stock advanced 5.51% in September to mark its fifth consecutive month of gains. For the entire past year, the shares of NVIDIA Corp rose by the stunning 223.85%. The stock has advanced another 67.48% so far in 2017.

According to Atif Malik, Citi analyst, NVIDIA Corporation is “widely perceived as an underdog in inferencing given architecture optionality around the use of CPU, FPGA, and TPU”.

According to CNN Money, the 32 analysts, offering 12-month forecasts regarding NVIDIA Corporation’s stock price, have a median target of $180.00, with a high estimate of $250.00 and a low estimate of $75.00. The median estimate is a 0.69% surge compared to the closing price of $178.77 on September 29th.

The same media also reported that 17 out of 37 surveyed investment analysts had rated NVIDIA Corporation’s stock as “Buy”, while 13 – as “Hold”. On the other hand, 4 analysts had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the NVIDIA stock are presented as follows:

R1 – $179.00
R2 – $179.22
R3 (Range Resistance – Sell) – $179.45
R4 (Long Breakout) – $180.13
R5 (Breakout Target 1) – $180.92
R6 (Breakout Target 2) – $181.26

S1 – $178.54
S2 – $178.32
S3 (Range Support – Buy) – $178.09
S4 (Short Breakout) – $177.41
S5 (Breakout Target 1) – $176.62
S6 (Breakout Target 2) – $176.28

By using the traditional method of calculation, the weekly levels of importance for NVIDIA Corporation (NVDA) are presented as follows:

Central Pivot Point – $176.23
R1 – $182.27
R2 – $185.76
R3 – $191.80
R4 – $197.83

S1 – $172.74
S2 – $166.70
S3 – $163.21
S4 – $159.71