Nvidia Stock Soars as AI Demand Surges: Can NVDA Break Through $500?

Summary:
• Nvidia’s stock is surging on AI demand, A100 and H100 chips driving growth. Can NVDA break key resistance levels and maintain momentum?

Nvidia (NASDAQ: NVDA) has been on fire lately, driven by demand for AI technology. With its stock trading around $136.93, up 0.89%, Nvidia is inching closer to breaking through key resistance levels. But the question remains—can it maintain this momentum and push towards $500, or is a pullback looming?

Nvidia Chart Analysis

Current Price: Nvidia is trading at $136.93, up 0.89% for the day.

Resistance Levels:

• $138.44: The immediate resistance level; if Nvidia breaks above this, it could indicate a bullish short-term trend.
• $140.81: A critical resistance level where sellers may jump in to take profits.

Support Levels:

• $130.03: A strong support level where buyers could enter if Nvidia retraces.
• $116.19: A key support zone from the summer rally, providing a safety net if the stock drops significantly.

Recent Price Action: Nvidia has been steadily climbing throughout Q3 and into Q4, driven by its AI growth. However, the stock is nearing resistance levels, which may slow the upward trend if not broken.

Upcoming advancements in Nvidia GPUs could help Nvidia stay ahead in the AI industry in the upcoming earnings report.

Conclusion: Will Nvidia Keep Pushing Higher?

Let’s be real—Nvidia’s been the MVP of the AI party, but can it keep dancing at these highs? With resistance looming at $138.44, it’s like the stock’s trying to sneak past the bouncer into the VIP section. If it can, we might see a rally toward $140.81. But if it hits the brakes, we could be sliding back to $130.03, where the crowd might regroup. Either way, Nvidia’s not leaving the spotlight anytime soon, so buckle up for the next move!