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Key Insights:
- Technical breakout confirms bullish momentum with $190 as the new target for the NVDA price.
- NVIDIA stock surges toward a $4 trillion market cap milestone.
- Generational support holds as buyers continue accumulating on dips.
NVIDIA Corporation (NASDAQ: NVDA) has been running on growing trends as the NVDA price closed at $159.34 on July 3, while it approaches a $4 trillion market cap.
The recent value gains have left NVIDIA at a 2.75% distance from becoming the first company in history to accomplish that market capitalization.
Its shares lifted to a high of $160.98 intraday before settling slightly below. It is another high session with steady buying pressure among institutions. The rally is an indicator of increased bullishness in equity markets and AI-driven technology industries.
Daily Structure Shows Firm Bullish Continuation on NVDA Price
NVDA price is predicted to hit $500 in the long term. Its recent rise has been abetted by a well-defined bullish channel line, which can be termed by some technical analysts as generational support.
As charts show, this diagonal support line has been strong since the start of April and has been keeping NVDA on its present uptrend. The trend has provided stable bouncing areas to the buyers, which have enhanced the strong price action.
Based on candlestick analysis, the daily chart shows higher lows and higher highs. It is a sign of a healthy continuation of movement. The downside of the recent candles has been long wicked, implying that buyers have come into the market forcefully in case of dips.
NVDA Price Headed Towards $190: Analyst Ali
Ali Martinez also added that the $NVDA price is currently in a discovery where the likely next resistance is seen at $190. The $152 price zone is a ceiling as seen in the first half of 2024 and in the first part of the year 2025.
Last week, the breakout of this level was confirmatory in bullish continuation. Now, the price is progressing toward higher levels in rather unresisted levels.
Future resistance marks are represented by horizontal levels at $168.00 and $190.00. If the trend persists, $190 technically seems possible. This is due to the lack of representation of the supply between $160 and $180.
Bullish Open Fades into Sideways Consolidation
Google finance data indicate that the NVDA price, which had a good run in May, started trading at slightly less than $158 in the initial trading days of July. This is followed by a robust performance in the morning trading hours, which propelled the share to higher than $160.
The second half of the session, however, reversed to a fading higher into the $159 area. It indicated intraday profit taking and the apprehensive positioning as the U.S holidays start off.
NVDA did not sell off on the retracement. It closed at 2.09% up in its reserves, or seriously hanging on to the last close of $157.25. The post-market after-hours trading showed a slight negative no. of -0.06% or -0.09/-0.09 (stock priced at 159.25). That’s in spite of a mixed short-term view.
As seen earlier in the charts based on the horizontal line of resistance, NVIDIA currently stands at a humble 2.75% short of the market capitalization of $4 trillion. It is denoted by the red line, running horizontally at a price of around $163.73.
Another thing observed in the chart is the continuous purchase in June, with several green candles displaying a tall line pattern.
The bullish run toward the $4 trillion mark is supported by strong revenue forecasts on data center chips, AI acceleration units, and enterprise GPU requirements.
At the current pace, NVIDIA may be the first company to beat the $4T mark in history, and not even the likes of Apple or Microsoft will be able to stop this process, as well as Saudi Aramco.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
