Nvidia Stock (NVDA): A Strong Start to 2025

As shown by Nvidia's (NVDA) chart:
→ In 2024, the stock price rose by approximately 180%—one of the best performances among S&P 500 constituents. Notably, NVDA contributed the largest share—around $1.23 trillion—to the growth of the US stock market capitalisation.

→ 2025 began on an optimistic note: on 3rd January, the candle opened with a bullish gap, and the price climbed confidently during the trading session, closing near the highs. This signals strong demand after the holiday period.

Today, Nvidia CEO Jensen Huang is scheduled to speak at the Consumer Electronics Show (CES). Insights from his speech could potentially provide an additional bullish catalyst.

According to a technical analysis of Nvidia's (NVDA) stock chart:

→ Price movements have formed an ascending channel (highlighted in blue), but the psychological level of $150 serves as strong resistance within this channel.

→ The decline observed in December (marked by red lines) may have been a correction within the prevailing uptrend, with the candle formed on 3rd January signalling an attempt to resume growth.

In January, we may see another bullish attempt to breach the $150 level. The outcome of which will provide valuable insights into the current market sentiment.

According to TipRanks, analysts have a positive outlook for the stock in 2025:
→ 37 out of 40 analysts recommend buying NVDA shares.
→ The average price target for NVDA over the next 12 months is $177.08.

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