- 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
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.
