nvidia stock soared 5% on Wednesday, reaching a new record of $146.47, making the company's market value $3.58 trillion. With this increase, Nvidia is now the most valuable company in the world, surpassing Apple whose market value is now around $3.38 trillion. This historic event shows that Nvidia is back at the top of the valuation list for the first time since late October.
The recent rally is part of the broader technology rally in the sector. The Nasdaq 100 has so far risen almost 3% following Donald Trump's victory. NVIDIA rose at an incredible rate, much faster than Apple, which rose 0.12% at midday. Microsoft is the third company to reach this level, with a market capitalization of $3.12 trillion.
ai leader nears $4 trillion valuation
Nvidia's stock market success It's been really amazing, even more so since the launch of ChatGPT two years ago. The company has become the leading supplier of ai-optimized GPU chips, and as a result, Nvidia has grown nearly $3.2 trillion in its market capitalization and the stock is up approximately 800% during that period.
Wall Street remains bullish on Nvidia, with some analysts predicting the company could reach a valuation of around $4 trillion. Bank of America, however, is the only financial institution to have raised its rating on Nvidia to $190 through a price target, calling it a “generational opportunity” as the company persists in its ai dominance.
Additionally, Nvidia will be added to the Dow Jones Industrial Average, replacing Intel, on Friday. Starting with the results of the November 20 quarter, the entire world will be left speechless by the tech giant as to whether or not it has the capacity to maintain its high growth.
Nvidia Stock Chart Analysis
The NVIDIA (stocks/nvda”>NVDA
The most interesting thing is that on October 30 and 31 the price fell sharply, followed by a drop to around 132.12, which turned out to be a major positive factor. The stock has recovered very strongly. Therefore, it can be seen. Over the past few trading sessions, NVIDIA's stock price has been rising, reaching a high of 146.22 on November 7.
The RSI, or Relative Strength Index, is currently around 64.30, below the overbought threshold of 70, indicating that the latest uptrend may have room for more, but may also be close to a level. of resistance. The last RSI to break the level was 76.09, which is a sign of overbought conditions that typically serve as a warning of an impending pullback or consolidation phase.
From a technical perspective, the market has had some minor setbacks, but the stock is still in a short-term uptrend. A successful break above 146.22, coupled with strong volume, would mean that further upside is possible.
On the contrary, if such a trend is stable within the segment at a lower RSI level, it may indicate a possible consolidation phase or a small decline.
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