Nvidia is trading at $135.40, showing a solid 0.4% gain in the last 24 hours. What’s even more exciting? The stock has surged almost 50% from its April lows, making a strong comeback that’s catching investor attention across the globe. This rally gained strength after Nvidia broke above its 200-day moving average a key signal of a new bullish trend. Technical indicators support this momentum. The relative strength index (RSI) is now moving close to 70, showing strong buying interest. But a high RSI also means the stock could be entering “overbought” territory, so investors need to stay alert.

Eyes on $150, A Key Resistance Zone Ahead

Nvidia has broken past its first major resistance at $130, which had been holding the stock back since last August. This breakout is a big deal, it shows that buyers are in control. Now, the next big test lies at $150. This level has been a tough wall in the past, with many previous price rejections. If Nvidia can push above and stay there, we could see a powerful rally with even new all-time highs in sight.

On the other hand, if things turn south, Nvidia has solid support at $115 right at the 50-day moving average and near the breakout zone of a falling wedge pattern. If the price falls below $115, it could lead to more selling pressure, possibly pulling the stock down to the next major support at $96, which acted as a key level in both April and last year’s March.

AI Demand and Deals Driving Optimism

The real engine behind Nvidia’s growth? Artificial Intelligence. In recent months, Nvidia has been riding a wave of AI-driven demand. A major reason for this excitement is a newly announced deal with a Saudi Arabian AI firm. Nvidia will be selling hundreds of thousands of advanced GPUs over five years, a massive deal that is expected to give a big boost to Nvidia’s revenue.

But that’s not all. Nvidia is also making smart moves by developing hybrid systems that include chips from other companies. This shows Nvidia’s practical and adaptive approach to technology, helping it stay ahead in the fast-moving semiconductor space, competing with major players like AMD and Intel.

Export Limits and Investor Caution Remain Risks

Even with all this success, Nvidia isn’t free from risks. U.S. export restrictions on AI chips going to China could hurt its revenue, as China is a huge market for high-performance computing. Also, some big institutional investors have recently sold off part of their Nvidia shares. This might be a sign of caution, possibly due to profit-taking or broader market uncertainty after the recent price rally.

Can Nvidia Push Beyond $150 Toward New Highs?

Nvidia is now perfectly positioned to make a run toward the $150 resistance level. If it breaks above and holds, the next targets could be around $165 or even higher, depending on how strong the market stays. But if the price drops and can’t stay above $130, sellers might take over. A dip below that could send the stock down to $115, and if that level doesn’t hold, it could even test $96. Still, the outlook remains positive. That major Saudi GPU deal  involving “hundreds of thousands of advanced GPUs over five years” not only boosts confidence in Nvidia’s future but also strengthens its leadership in the AI and semiconductor industries.