Usman Salis
Nvidia (NVDA) has pushed through a key resistance level that held it back for months, and this time the move is backed by solid trading volume. The breakout suggests fresh institutional interest and opens the door for another leg higher in the stock's ongoing rally.
Breakout Above Major Resistance
TrendSpider trader flagged a significant technical shift as Nvidia recently cleared the $184.50 resistance zone, a level that had capped price action multiple times in recent months. Trading around $186.58 now, the stock has confirmed the breakout with conviction.
What makes this move notable is the spike in volume - suggesting real money is flowing in, not just speculative interest. The development points to renewed bullish momentum in the name.
Chart Analysis: Technical Signals
The daily chart shows a rounded bottom formation, a pattern that often precedes sustained upward moves. Here's what stands out: support sits at $164.16, forming the base of the structure. The breakout above $184.50 flips that former resistance into new support. If momentum holds, the next target comes in at $197.18, based on a 1.618 Fibonacci extension. Volume profile analysis shows accumulation building on the right side of the pattern, reinforcing the bullish case.
Why Nvidia Is Gaining Momentum
The rally isn't happening in a vacuum. Investor enthusiasm around AI expansion, GPU demand, and Nvidia's leadership in high-performance computing continues to drive interest. Strong earnings and expectations for further AI-driven growth keep institutional money flowing into NVDA, making it a focal point for tech-focused portfolios.
Path Toward $197?
With volume confirming the breakout, Nvidia looks positioned to push toward the $197 target. Holding above $185 will be key to maintaining the upward trajectory. A slip back below the breakout zone could bring a short-term retest of lower levels. For now, Nvidia remains the bellwether of the tech rally - its strength continues to set the tone for broader market sentiment.
Usman Salis
