Yesterday, Nvidia’s (NVDA) share price surpassed $162 for the first time in history. As a result, the company’s market capitalisation briefly exceeded $4 trillion during intraday trading (according to CNBC), making Nvidia the first publicly listed company to reach this milestone.

The rise in NVDA’s share price is being driven by both bullish sentiment across the broader equity market—which appears optimistic ahead of the upcoming Q2 earnings season—and evidence of sustained demand for Nvidia’s products, as artificial intelligence technologies continue to gain widespread adoption.

Noteworthy developments include:
→ Nvidia may begin producing a specialised AI chip for the Chinese market this autumn, potentially circumventing current export restrictions;
→ Perplexity, a company backed by Nvidia, is launching an AI-powered browser aimed at competing with Google Chrome.

Technical Analysis of NVDA Chart

In our previous analysis of NVDA’s price action, we:
→ Drew an ascending channel;
→ Highlighted bullish conviction in overcoming the $145–150 resistance zone.

The channel remains valid, with the current price trading near its upper boundary. However, the RSI indicator is showing signs of bearish divergence, suggesting that the stock may be vulnerable to a near-term correction—potentially towards the median line of the existing upward channel.

At the same time, a major shift in the prevailing bullish trend appears unlikely. The $145–150 range may serve as a key support zone for NVDA in the foreseeable future.

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