Saad Ullah
NVIDIA just delivered another impressive surge, jumping 6.47% to $177.82 and proving the bulls are still in control. The stock's been grinding higher inside a clean ascending channel, and after shaking off a recent pullback, it's now eyeing the upper boundaries of this bullish pattern. With AI demand still red-hot and technicals looking strong, NVDA might have more room to run.
Technical Setup Looking Solid
The chart tells a pretty clear story - NVDA's been climbing steadily inside this rising channel, and every dip has been bought up quickly. Analyst ShortSeller flagged some downside risk if the stock broke below a key zone marked with red arrows, but that bearish scenario just got invalidated. Instead of breaking down, NVDA bounced hard and reclaimed its position above the mid-channel trendline. The momentum indicators are running hot - RSI and stochastic are both elevated, showing serious bullish pressure, though they're also flashing some overbought warnings for the short term.
Why NVDA Keeps Winning
The fundamentals haven't changed - AI and data center demand for GPUs is still through the roof, and NVIDIA owns this space. The company keeps crushing earnings expectations, which gives investors confidence to keep buying the dips. In a tech sector that's been pretty mixed lately, NVDA stands out as a clear leader that's actually delivering on the AI promise.
As long as NVDA stays above that $150 support level, this bullish channel remains intact and the path of least resistance is higher. A clean break above current levels could easily push the stock into the $190-$200 zone. But if we see a decisive drop below $150, that would flip the script and put those lower support levels around $143-$123 back in play.
Saad Ullah
