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Nvidia Stock Analysis: Key Resistance Levels To Watch Today

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Written By: Lilly Mwogah
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    Summary:
  • Nvidia (NASDAQ: NVDA) stock is currently trading at $117.48, just below the key resistance level of $120.74.

Nvidia Corporation (NASDAQ: NVDA) stock is currently trading at $117.48, just below the key resistance level of $120.74, which acted as a barrier in previous sessions. A breakout above this level could lead to further upside, with the next resistance at $130.03.

Nvidia’s growth is fueled by its innovations in high-performance GPUs, essential for many sectors. The company’s leadership in developing advanced chips is driving its financial performance, as demand for powerful computational solutions keeps increasing.

Nvidia key resistance levels

Nvidia’s stock remains a significant player in the market, driven by its advancements in high-performance computing and innovation across key industries.  Recent support is at $102.86, showing that buyers saved the day earlier this month when the stock dipped.

The chart indicates a pivotal moment as the stock hovers near a crucial resistance at $120.74. A breakout could see the stock moving towards higher levels, which have not been reached since July, making it a focal point for short-term traders and long-term investors.

NVDA chart analysis

With strong support at $102.86, Nvidia’s technical outlook remains bullish, further fueled by growing demand for its industry-leading technology. Traders should monitor these levels closely for potential moves in the days ahead.

This post was last modified on Sep 17, 2024, 17:37 BST 17:37

Written By: Lilly Mwogah

Lilly Mwogah is a finance writer specializing in cryptocurrencies, forex, and indices. Passionate about simplifying complex financial topics, she creates engaging content for a broad audience. With a solid grasp of market trends and economic indicators, her work informs and empowers readers to navigate the dynamic finance world.

Published by
Written By: Lilly Mwogah