$NVIDIA(NVDA)$
NVIDIA back tested the demand zone between 76–98 last month and held. After nearly 12 months of stagnation, it finally looks ready to run. Today, it cleared a key intermediate level at 115 and is now approaching the massive 124 resistance. A breakout above 124 sets the stage for a move back to all-time highs.
Fueling the move? Breaking News Today: U.S. officials are preparing to repeal the AI diffusion rule launched by the Biden administration — a policy NVIDIA has publicly opposed. This is a major win for NVDA as it would allow them to resume more aggressive AI chip exports, especially to international markets where demand is booming.
With SPX nearing 5700 and semiconductors yet to fully move, NVDA is perfectly positioned to lead the charge higher. A breakout could send it toward 150 in the coming weeks — and possibly 200 after that.
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