NVIDIA Share Price Rises: Can It Sustain Its Upward Momentum?

NVIDIA Corporation (NASDAQ: NVDA) continues to dominate the headlines as its share price rises by 2.09%, closing at $148.29 on November 13, 2024. The stock remains a key focus for investors due to its pivotal role in the AI and GPU markets and robust price action. As NVIDIA approaches a critical resistance level, traders are asking: Can this rally be sustained?

Key Technical Analysis for NVIDIA

The chart indicates a bullish trend, with the stock holding well above crucial support levels.

• Nvidia Immediate Resistance:
  • $150: A psychological and technical level. A break above this could open the door to further upside.
  • $156: The next resistance zone if momentum sustains.
• Nvidia Support Levels:
  • $144.46: Immediate support to watch for a potential pullback.
  • $140.33 (20-EMA): A stronger floor that aligns with bullish technical patterns.

Market Outlook for NVIDIA

To sustain this rally, NVIDIA must break through the $150 resistance decisively. A close above this level could signal further gains, targeting $156 and beyond. Conversely, failure to hold above $144.46 might indicate short-term consolidation or a pullback.

As markets focus on innovation, NVIDIA’s price movement offers a window into broader investor confidence in the AI and semiconductor sectors.

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