NVIDIA reaches new market milestone

The bullish chash promoted by the good quarterly results and its upward update in its forecasts for the coming years has led the share price to set new all-time highs. In fact, the stock has temporarily joined the select club of companies with a capitalization of more than one trillion dollars.

However, the stock is beginning to show the first signs of trend exhaustion. The 438 dollar zone has stopped the stock, a reference that should be overcome soon if it wants to give continuity to the current upward movement. The strong overbought accumulated in both daily and weekly charts conditions its short-term evolution. Below, the $400 zonal level is the support to watch. Its loss at daily closing prices would confirm a first sign of weakness, a handicap that could trigger the beginning of a corrective leg in search of the lower part of the bullish breakout gap left in mid-May around 320 dollars zonal.

Supports: $438 dollars
Resistances: 420, 400, 385, 360 320 dollars
Targets:(bullish) 440, 470 (bearish) 400, 360, 320, 300 zonal dollars