NVIDIA (NASDAQ: NVDA) stock is soaring, driven by strong AI demand and a massive $3.5 trillion market cap. However, after falling 2.81% today, the stock is testing the important level of $139.56. Can this market hold up, or is it time for traders to brace for more volatility?
AI Growth Continues to Drive NVIDIA
NVIDIA chips are powering advances in AI everywhere from the lab to self-driving cars. Recent news that orders for Blackwell GPUs have been filled has pushed the stock higher and kept bulls hopeful. However, with the possibility of export restrictions looming, caution may be wise.
technical chart analysis
Current price: $139.56, down 2.81%. Resistance: First $140.81, then $146. Support: Initial price is $136.15, deeper price is $130.03. RSI: 62.82, still bullish but close to overbought.
outlook
Short-term traders should keep a close eye on the $140 level. If NVIDIA outperforms that, further gains could follow. In the long run, the AI story will remain intact, but there may be surprises along the way. NVIDIA stock may still have room to rise as demand for AI continues to soar.
