Nvidia (NVDA) this week surged into the top position among the world's most valuable companies by 澳洲幸运5官方开奖结果体彩网:market capitalization, surpassing iPhone maker Apple (AAPL).

The AI chipmaker’s shares gained about 4% on Wednesday, hitting a record high of $146.49, as 澳洲幸运5官方开奖结果体彩网:U.S. equities soared following the election of Donald Trump as president. Nvidia shares have risen nearly three-fold since the start of the year amid insatiable demand for the company’s family of AI chips, including its next generation Blackwell 澳洲幸运5官方开奖结果体彩网:graphics processing units (GPUs).

Below, we analyze the 澳洲幸运5官方开奖结果体彩网:technicals on Nvidia’s chart and identify ꦆimportant price levels that inves🦄tors may be watching.

Trading Volumes Remain Low

Since breaking out from a 澳洲幸运5官方开奖结果体彩网:symmetrical triangle last month, Nvidia shares have traded mostly sideways to higher as investors look for future cata♈lysts that may drive the AI favor🎶ite’s next move.

It’s worth pointing out that in recent months, the stock’s volume has tracked steadily lower, potentially indicating that larger market participants remained on the sidelines ahead of the US election and amid uncertainty over 澳洲幸运5官方开奖结果体彩网:chip export curbs.

Looking ahead, investors should𝕴 monitor for increasing share turnover while eyeing these important price level🔴s on Nvidia’s chart.

Key Lower Levels to Monitor

The first lower level to watch sits at $144, an area on the chart just below Wednesday's closing price where the shares may encounter support near a period of 澳洲幸运5官方开奖结果体彩网:consolidation positioned around the prior 澳洲幸运5官方开奖结果体彩网:all-time high (ATH).

Further selling could see Nvidia shares fall to around $125, an area on the chart where they currently find support near the closely watched 澳洲幸运5官方开奖结果体彩网:50-day moving average and symmetrical triangle’s upper trendline.

A 澳洲幸运5官方开奖结果体彩网:breakdown below this level could see the stock fall to the $97 region. Investors may seek 澳洲幸运5官方开奖结果体彩网:entry points at this location near a trendline joining two March peaks with a series of prices🎉 positioned around the early-August l𒀰ow.

Important Higher Level to Watch

To forecast a higher level using technical analysis, we can apply the 澳洲幸运5官方开奖结果体彩网:measuring principle, often referred to as a measured move.

This technique works by calculating the distance between the symmetrical triangle’s two trendlines near their widest point and adding that amount to the initial breakout area. I🍒n other words, we add $55 to $125, which projects an upside target of $180.

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As of the date this article was written, the author does not own any of the above securities.