Nvidia-Backed CoreWeave Stock Soared More Than 50% Last Week—Watch These Key Levels
Key Takeaways
- CoreWeave shares soared last week after the AI cloud provider posted a surge in quarterly revenue and disclosed that Nvidia has a higher stake in the company than investors had anticipated.
- The stock forged a cup and handle pattern on the chart between late April and early May before breaking out above the formation’s top trendline last week.
- The measuring principle projects an upside target in the shares of $96.90, about 20% above Friday’s closing price.
- Investors should watch key support levels on CoreWeave’s chart around $73 and $57.
CoreWeave (CRWV) shares soared last week after the AI cloud provider posted a surge in quarterly revenue and disclosed that Nvidia (NVDA) has a higher stake in the company than…
