TradingKey – Nvidia Shares Rise Nearly 2% to Snap Losing Streak: Is the AI Leader Gearing Up for a New Rally?

On October 9, Nvidia (NVDA) shares rebounded nearly 2% in pre-market trading to $234.27, snapping a three-consecutive-day losing streak and recouping part of the losses. However, does today’s rebound mark the official start of a new primary rally, or is it merely a technical correction and position turnover within a high-level consolidation?

On Tuesday this week (October 6), Nvidia’s stock price surged to $243 intraday, setting another record high. Subsequently, the stock pulled back after surging, with losses expanding yesterday due to a pullback in the broader U.S. market, falling nearly 3% in a single day to $230.48.

However, as…