Nvidia’s stock is attracting attention as CEO Jensen Huang prepares to present at the Consumer Electronics Show in Las Vegas. The company’s shares have seen significant growth, with a 170% increase in 2024 following a 240% rise in the previous year, driven by strong demand for its AI chips, especially as major tech companies expand AI infrastructure and data centers.
Investors are particularly interested in updates concerning Nvidia’s Blackwell chips and the anticipated Rubin successor, set to launch in 2026. Wall Street firms see Nvidia as a strong candidate for continued growth, given the demand for its technology.
Currently, Nvidia’s stock has been trading within a descending channel since reaching an all-time high in November. The price action has shown a pattern of trading between the upper and lower boundaries of this channel, with key support levels identified around $130 and $115. If the stock falls below $130, it may test the lower support level at $115, which could trigger further investor interest.
On the resistance side, investors should monitor the $140 level. Success in breaking through this price could lead to further gains, potentially reaching $150. As the market observes Nvidia’s performance and upcoming announcements, key technical levels will play a critical role in guiding investor sentiment and stock movement in the near future.