Nvidia Price Levels to Watch as Stock Hits Record High on AI Optimism
Key Takeaways
- Nvidia shares will likely remain in the spotlight after surging to a new record high Monday amid optimism about the company’s dominance of the AI chip market and insatiable demand for its next-generation Blackwell GPU architecture.
- The relative strength index indicates bullish price momentum and gives a reading below overbought levels, suggesting the stock has ample room to test higher prices.
- A bars pattern, which extracts the stock’s trend higher from April to June and repositions it from the start of the current move higher in early September, projects an upside target on Nvidia’s chart around $180.
- During periods of weakness, investors should monitor important support levels around $125, $97, and $76.
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