Nvidia (NVDA) shares will remain on watchlists after the AI favorite 澳洲幸运5开奖号码历史查询:returned to the $3 trillion markꦫet cap club on Tuesday following the announcement of a major partnership with a state-backed Saudi Arabian AI company.

The deal, which coincided with the beginning of President Trump’s four-day tour through the Middle Eaꦏst, will see the chipmaker sell several hundred thousand advanced GPUs to an AI subsidiary of Saudi Arabia’s sovereign wealth fund over the next five years, starting with an 澳洲幸运5开奖号码历史查询:AI supercomputer powered by 18,000 GB300 chips.

Nvidia shares lost more than 40% of their value between February and April amid concerns that 澳洲幸运5开奖号码历史查询:moderating AI spending and the Trump administration’s trade pol🌳icies could weigh on the company's sales. However, the stock has rallied 50% from last month's low amid optimism over new ಞtrade deals. 

Below, we take a closer look at Nvidia’s chart and apply 澳洲幸运5开奖号码历史查询:technical analysis to identify c▨rucial price levels worth watching out for.

Decisive Close Above 200-Day Moving Average

Nvidia shares have trended sharply higher after breaking out from a falling wedge pattern last month, with the price staging a decisive close above the 澳洲幸运5开奖号码历史查询:200-day moving average (MA) in Tuesday’s trading session. It’s also worth pointing out today’s move occurred on the highest volume in sev🌸eral we๊eks, signaling increased interest in the chipmaker’s stock

While the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) confirms bullish momentum with a reading just below the 70 threshold, the indicator also cautions nearing 澳洲幸运5开奖号码历史查询:overbought conditions, which could lead to short-ꩵterm profit-taking.

Let’s focus on two crucial overhead areas on Nvidia’s chart that investors may be watching and also identify important 澳洲幸运5开奖号码历史查询:support levels worth monitoring during future 澳洲幸运5开奖号码历史查询:pullbacks.

Crucial Overhead Areas to Watch

The first area to watch sits around $130, This area, just above Tuesday’s closing price, may provide overhead resistance near a 澳洲幸运5开奖号码历史查询:horizontal line that links a series of 澳洲幸运5开奖号码历史查询:peaks and troughs on the chart stretching back to last August.

The bulls’ ability to reclaim this level could see the shares climb to the crucial $150 area. Investors who have averaged into the stock may decide to 澳洲幸运5开奖号码历史查询:lock in profits in this region near several peaks that formed on the chart slightly below the stock’s 澳洲幸运5开奖号码历史查询:record high, set in early January.

Important Support Levels Worth Monitoring

Upon pullbacks in the stock, it’s worth monitoring the important $115 level. The shares find a 澳洲幸运5开奖号码历史查询:confluence of support in this area near the initial breakout poin🌳t from the falling wedge p𒁏attern, the 50-day MA, and a trendline that connects a range of trading activity on the chart extending back to last September.

Finally, a steeper drop could see Nvidia shares revisit lower support around $96. Investors would likely see this as a high-probability location to 澳洲幸运5开奖号码历史查询:accumulate shares near the late-April trough, which also closely aligns ཧwith two prominent peak♏s that formed on the chart in March last year.

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