- Nvidia rises 2.24% daily, reaching highs not seen since August 26.
- The company declares itself ready to participate in CES 2025, where it is expected to present the new generation of its graphics cards.
Nvidia (NVDA) marked a low of the day at $124.95, where it attracted buyers who were able to push the stock price to a six-week high not seen since August 26. At the time of writing, Nvidia stock is trading at $127.72, gaining 2.24%.
The founder of Nvidia will be the keynote speaker at the Consumer Electronic Show to be held in January 2025
The most important consumer electronics fair will take place on January 6, 2025 in Las Vegas, starting with the keynote speech by Jensen Huang, founder of Nvidia. The company is expected to present its new generation of GeForce RTX 50 GPU graphics cards, which are based on Blackwell technology.
The Ge Force RTX 5090 graphics card would use a GB202-300 graphics chip with access to 21,760 CUDA Cores capable of reaching a bandwidth of 1,792 GB/s. So we are talking about an increase of 80% compared to the GeForce RTX 4090 (1,008 GB/s).
In the midst of this context, Nvidia shares concluded the session gaining 2.24%, signing their fourth consecutive session on the rise.
Technical levels to consider at Nvidia
Nvidia shares reacted higher at short-term support located at $113.24, given by the September 18 low in convergence with the 50% Fibonacci retracement. The next key support is seen at $100.95, the pivot point of September 6.
The nearest resistance lies at $136.15, given by the July 11 high. The next key resistance zone is at $140.76, the all-time high reached on June 20.
Nvidia 3-hour chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
