Saad Ullah
Nvidia just pulled off another one of those moves that reminds everyone why it's the undisputed AI champion. After hitting $173 support, the stock shot back up to $179.3 like it was spring-loaded.
What the Charts Are Telling Us
Market analyst Real Blonde Broker called it perfectly, noting that NVDA "hit the edge of the butterfly wing" - a technical pattern that usually means big moves are coming. With AI hype still running hot and the technicals lining up, $200 is starting to look very achievable.
The technical picture couldn't be clearer. Nvidia bounced hard off that $173 level, which was always going to be make-or-break territory. Now sitting at $179.3, it's found its footing right where it needed to. The butterfly harmonic pattern that's playing out is textbook stuff - these formations often lead to strong directional moves, and right now all signs point up.
The next test comes at $185.3, but if that falls, we're looking at a clear path to the $198-$200 zone based on Fibonacci extensions. The beauty of this setup is that it's not just one indicator screaming buy - multiple technical elements are aligning at the same time.
Why This Rally Has Legs
Here's the thing about Nvidia - it's not just riding technical momentum. This company is literally powering the AI revolution. Every major tech company building AI models needs Nvidia's chips. Data centers can't function without them. The quarterly numbers keep beating expectations, and institutional money keeps flowing in. When you combine that fundamental strength with clean technical patterns, you get the kind of setup that can really run.
The path forward is pretty straightforward:
- Key Support Levels: $179.3 (current breakout point) and $173 (major bounce zone)
- Resistance Targets: $185.3 for the next test, then $198-$200 as the main prize
- Pattern Confirmation: The butterfly formation suggests continuation higher
- Volume Profile: Strong buying interest above $179 supports the bullish case
If Nvidia holds above $179, the odds of hitting $200 go way up. Break $185.3 with conviction, and it's game over for the bears. But lose that $179-$173 support zone, and we might have to wait a bit longer for the next leg up. Either way, this is one of the cleanest setups we've seen in the AI space.
Saad Ullah
