Saad Ullah
Nvidia (NVDA) is showing signs of strength in the premarket, with price action testing key resistance near $157.25. The surge follows optimism around a new bill that could act as a catalyst for semiconductor stocks. Traders are closely watching NVDA as it hovers above crucial support levels and flirts with breakout territory ahead of the opening bell.
Nvidia (NVDA) Heats Up in Premarket After Bullish Bill Boost
Nvidia (NVDA) shares are gaining momentum in pre-market trading, currently priced at $158.17, following a wave of renewed optimism tied to potential legislation support. The price action suggests bulls are eyeing a continuation breakout, with $157.25 as a key intraday resistance pivot.
The strong move comes after NVDA held support near $153.01 and $151.57, both of which now serve as critical zones for potential pullbacks.
Technical Setup Shows Momentum Building for NVDA
The chart shows a strong upward trend supported by bullish volume. NVDA is bouncing off the $149.36 level and trading well above its 20-day moving average, confirming near-term bullish bias. If NVDA can decisively hold above $157.25, the next upside target may be a retest of recent highs around the $160+ level.
Below, support levels are stacked at $153.01, $151.57, and $149.36, with major structure zones even lower at $140.89, $136.24, and $128.99, in case of broader weakness or profit-taking.
Conclusion
As Nvidia (NVDA) pushes toward new highs in the premarket fueled by potential legislation, all eyes are on whether bulls can sustain momentum above $157.25. With solid support below and rising buying volume, traders are positioning for a potential breakout in the coming sessions.
Saad Ullah
