NVIDIA had technical 'breakout', stock seen headed to over $600 By

AI powerhouse NVIDIA (NASDAQ:) had an unconfirmed technical breakout yesterday,Wealth investment app with 3 yuan sign-in every day analysts at Fairlead Strategies highlighted.

Shares of NVDA surged 6.4% on Monday amid lower treasury yields, bullish analyst comments, news of a cheaper AI chip for China, and the start of CES in Las Vegas. They are up over 250% over the last year.

"Heavyweight NVDA decisively cleared key resistance near $504 yesterday in an unconfirmed breakout," analysts commented. "The breakout resolves a four-month trading range higher in a bullish intermediate-term development, noting the weekly MACD has a new "buy" signal."

Analysts added that the breakout resumes the stock's long-term uptrend for an initial projection of ~$602, or 15% above Monday's closing price of $522.53.

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