Watch These Nvidia Price Levels as Stock Surges on News That China Chip Exports to Resume
Key Takeaways
- Nvidia shares jumped Tuesday morning after the AI investor favorite said it plans to resume selling one of its most popular chips to China.
- After reclaiming the 200-day moving average in mid-May, Nvidia shares have continued to trend higher, though trading volume and volatility have contracted.
- Trend analysis, which takes the stock’s move higher throughout June and repositions it from this month’s low, projects a near-term price target of around $178.
- Investors should watch key support levels on Nvidia’s chart around $159, $150 and $143.
Nvidia (NVDA) shares jumped premarket trading on Tuesday after the AI investor favorite said it plans to resume selling one of its most popular chips to China.
The chipmaker,…
