Nvidia Stock Nears the $200 MarkNvidia’s stock has gained more than 4% over the last three trading sessions. The price currently hovers slightly above $190 per share, marking new record highs and moving closer to the psychological level of $200.
Buying pressure has intensified after the U.S. government authorized a series of agreements allowing the export of advanced artificial intelligence chips to the United Arab Emirates, opening a strategic trade channel with the Middle East. This development has strengthened investor confidence, fueled by higher long-term revenue expectations for the company. As a result, buying momentum may continue to dominate in the short term.
Relevant Uptrend
Since early April, the stock has maintained a steady upward trend, consistently posting new highs that confirm a dominant bullish bias on the broader chart. So far, there have been no significant corrections threatening this structure, leaving the uptrend line as the key reference for short-term movements.
However, as the price approaches the $200 level, a phase of indecision could emerge due to signs of buyer exhaustion, reflected in the formation of weakening candles. This behavior could lead to technical pullbacks within the broader bullish trend.
RSI
The RSI line remains above the 50 level, indicating that buying momentum remains dominant over the past 14 trading sessions. However, the indicator is gradually approaching the overbought zone (70). If it reaches this level, it could signal an imbalance in market forces, opening the door to short-term downward corrections.
MACD
The MACD histogram remains close to the neutral line (0), suggesting a lack of clear directional strength in the short-term moving averages.
Both indicators point to a potential phase of indecision in short-term movements, allowing for a possible period of consolidation within the current bullish bias, especially if no new major catalysts emerge to drive aggressive buying pressure in the coming sessions.
Key Levels to Watch:
$200 – Psychological Resistance: In the absence of historical references, this level stands out as the most relevant short-term price point. It could act as a technical barrier, triggering temporary pullbacks.
$184 – Near-Term Support: Corresponds to the recent retracement area. A drop below this level could neutralize bullish momentum and lead to a sideways consolidation phase.
$170 – Key Support: Associated with recent lows, located below the 100-period moving average. A sustained move under this level could shift the market structure and pave the way for a dominant bearish bias.
Written by Julian Pineda, CFA – Market Analyst
