NVIDIA set to make one more higher high to $165?Technical Analysis:
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A series of higher highs and higher lows in Weekly Timeframe:
NVIDIA has found support at $132, which previously acted as a resistance area during June, July, and August 24. If the stock continues to rise from this level, we could see another higher high (yellow cap) around $165. Alternatively, a deeper correction toward $104 could still be on the table if the support fails.
Fundamental Analysis:
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1) If NVIDIA struggles, it would suggest AI's momentum is waning—which is clearly not the case. This downtrend might simply reflect profit-taking by large traders.
2) The "Santa Rally" is in play, and NVIDIA appears to be on the "nice" list, signaling potential upward momentum.
3) NVIDIA's Blackwell product line is expected to contribute significantly to profits in the next quarterly earnings, potentially providing a substantial boost to the stock.
I bought NVIDIA stock at $145 and plan to hold sell at $160.
