© Reuters. NVIDIA (NVDA) had technical ‘breakout’, stock seen headed to over $600
NVDA
-0.11%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
AI powerhouse NVIDIA (NASDAQ:NVDA) had an unconfirmed technical breakout yesterday, analysts at Fairlead Strategies highlighted.
Shares of NVDA surged 6.4% on Monday amid lower treasury yields, bullish analyst comments, news of a cheaper AI chip for China, and the start of CES in Las Vegas. They are up over 250% over the last year.
“Heavyweight NVDA decisively cleared key resistance near $504 yesterday in an unconfirmed breakout,” analysts commented. “The breakout resolves a four-month trading range higher in a bullish intermediate-term development, noting the weekly MACD has a new “buy” signal.”
Analysts added that the breakout resumes the stock’s long-term uptrend for an initial projection of ~$602, or 15% above Monday’s closing price of $522.53.
Source: Investing.com
