Nvidia (NVDA) Share Price Jumps Over 5%
Nvidia (NVDA) shares surged to the $130 mark yesterday a level not seen since late February 2025. This strong rise, marked by a wide bullish candlestick, helped Nvidia reclaim its status as a company valued at over $3 trillion.
Why Nvidia (NVDA) Shares Are Rising
The bullish sentiment has been driven by several factors, including:
Price increases on products: Nvidia has raised prices on its graphics cards and data centre chips. The GeForce RTX 5090 has risen by more than 10%, while the RTX 50 series is up by 510%.
News of a major contract: The company will supply chips to an AI start-up backed by Saudi Arabia. In addition, media reports suggest that the US government is considering a deal allowing the UAE to purchase up to 500,000 Nvidia chips annually until 2027.
All of this could positively impact Nvidias revenue, encouraging investors to buy NVDA shares.
Technical Analysis of Nvidia (NVDA) Stock Chart
Yesterdays sharp rally suggests a breakout from the descending channel (marked in red), which had remained in place since late last year.
The breakout occurred near the $123 level, which had previously acted as resistance. It is therefore possible that if there is a pullback in the NVDA stock price, this level could act as support (breakout retest pattern), confirming the breakdown of the descending channel and strengthening the outlook for further growth.
Read more: https://fxopen.com/blog/en/oa-nvidia-nvda-share-price-jumps-over-5/
Text source: Forex Trading Blog
