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Nvidia this week surged into the highest position among the many world’s Most worthy corporations by market capitalization, surpassing Apple.
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The stock has traded mostly sideways to higher on low trading volumes since breaking out from a symmetrical triangle last month as investors search for future catalysts that will drive the AI favorite’s next move.
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Investors should monitor key cheaper price levels on Nvidia’s chart around $144, $125 and $97, while watching a vital higher level near $180.
Nvidia (NVDA) this week surged into the highest position among the many world’s Most worthy corporations by market capitalization, surpassing iPhone maker Apple (AAPL).
The AI chipmaker’s shares gained about 4% on Wednesday, hitting a record high of $146.49, as U.S. equities soared following the election of Donald Trump as president. Nvidia shares have risen nearly three-fold because the start of the yr amid insatiable demand for the corporate’s family of AI chips, including its next generation Blackwell graphics processing units (GPUs).
Below, we analyze the technicals on Nvidia’s chart and discover vital price levels that investors could also be watching.
Since breaking out from a symmetrical triangle last month, Nvidia shares have traded mostly sideways to higher as investors search for future catalysts that will drive the AI favorite’s next move.
It’s price mentioning that in recent months, the stock’s volume has tracked steadily lower, potentially indicating that larger market participants remained on the sidelines ahead of the US election and amid uncertainty over chip export curbs.
Looking ahead, investors should monitor for increasing share turnover while eyeing these vital price levels on Nvidia’s chart.
The primary lower level to observe sits at $144, an area on the chart slightly below Wednesday’s closing price where the shares may encounter support near a period of consolidation positioned across the prior all-time high (ATH).
Further selling could see Nvidia shares fall to around $125, an area on the chart where they currently find support near the closely watched 50-day moving average and symmetrical triangle’s upper trendline.
A breakdown below this level could see the stock fall to the $97 region. Investors may seek entry points at this location near a trendline joining two March peaks with a series of costs positioned across the early-August low.
To forecast a better level using technical evaluation, we are able to apply the measuring principle, sometimes called a measured move.