Nvidia shares resume winning streak and approach all-time high

  • Nvidia rises 1.64% today, recording new highs for the month.
  • Foxconn’s world’s largest chip assembly plant will be built in Jalisco, Mexico.

Nvidia (NVDA) started the day by setting a daily low of $131.00, attracting buyers who drove the stock price to a new high for the month at $135.00. At the end of the day, Nvidia operates at $134.81, with a gain of 1.63%.

Mexico confirms the construction of the Nvidia chip assembly factory

The governor of the state of Jalisco, Enrique Alfaro, confirmed today the construction of the Foxconn mega plant in the city of Guadalajara, Jalisco, western Mexico.

The company plans to build the world’s largest factory to assemble Nvidia’s GB200 chips, needed for the industry’s most advanced artificial intelligence servers.

Nvidia shares maintain the bullish outlook, ending the session at $134.81, approaching its all-time high reached on June 20 at $140.76.

Technical levels to consider at Nvidia

Nvidia reacted to the upside at a support located at $115.14, given by the October 2 low, in confluence with the 50% Fibonacci retracement. The next key support level is seen at $100.95, the low of September 6.

To the upside, 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 Daily Chart

Source: Fx Street

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