Nvidia (NVDA) Shares Hit $200 for the First Time
Nvidia’s (NVDA) share price surged past the $200 mark yesterday, marking an all-time high and pushing the company’s market capitalisation to nahead $5 trillion.
Reasons Behind the Rally
Several factors are fuelling today’s bullish momentum for NVDA:
→ Enormous order book: Nvidia announced pre-orders for its AI chips totalling $500 billion.
→ US government collaboration: CEO Jensen Huang revealed plans to build seven AI supercomputers for the US Department of Energy.
→ Telecom expansion: Nvidia invested $1 billion in Nokia, taking a 2.9% stake to collaborate on AI-RAN and 6G technology development.
Technical Overview of NVDA
Our chart analysis from 23 September highlighted:
→ an ascending channel reflecting NVDA’s price action this autumn;
→ a breakout from a Bullish Flag pattern (shown in red);
→ expectations that strong fundamentals, AI growth, and potential Fed rate cuts could assist the stock surpass $183 and target $200.
Since then:
→ the breakout level has acted as support (bold blue line);
→ price movements have provided reference points to adjust the channel.
Looking Ahead
Bullish gaps (marked with arrows) show a clear demand imbalance. Momentum could continue to push NVDA toward the upper boundary of the channel, especially with upcoming key events:
→ the Federal Reserve’s rate announcement and press briefing;
→ earnings reports from Microsoft (MSFT), Alphabet (GOOGL), and Meta Platforms (META), expected to reinforce AI-related initiatives.
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