Watch Nvidia stock as AI Darling becomes the world’s most valuable company

Nvidia (NVDA) this week moved to the top of the world’s most valuable companies by market capitalization, surpassing iPhone maker Apple (AAPL).

The AI ​​chip maker’s shares rose about 4% on Wednesday to a record high of $146.49, as U.S. stocks soared following Donald Trump’s election as president. NVIDIA stock has nearly tripled since the beginning of the year, driven by insatiable demand for the company’s family of AI chips, including its next-generation Blackwell graphics processing units (GPUs).

Below, we analyze the technicals on NVIDIA’s chart and identify key price levels that investors may be watching.

Trading volumes remain low

Since breaking out of the symmetrical triangle last month, NVIDIA stock has traded mostly sideways to highs as investors look for future catalysts that could drive the AI ​​favorite’s next move.

It’s worth pointing out that stock trading volume has been steadily declining in recent months, as larger market participants have This could potentially indicate that they are continuing to watch from the sidelines.

Looking ahead, investors should keep an eye on these important price levels on NVIDIA’s chart while monitoring stock volume growth.

Key lower levels to monitor

The first downside level to watch is $144, an area on the chart just below Wednesday’s closing price, and the stock could encounter support near a consolidation period near its all-time high (ATH). be.

Further selling could send NVIDIA stock down to around $125. This area currently has support near the 50-day moving average and the symmetrical triangle upper trendline that are on the chart.

If the stock falls below this level, the stock could fall to around $97. Investors could look for an entry point here, with the series of prices near the early August lows and close to the trend line connecting the two March peaks.

Important top levels to focus on

To predict higher levels using technical analysis, you can apply the measurement principle (often referred to as measured movement).

This technique works by calculating the distance between two trendlines near the widest point of a symmetrical triangle and adding that distance to the first breakout area. In other words, add $55 to $125 and project an upside target of $180.

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